Banker to an Issue registration expands to cover escrow services and separate IPO proceeds accounts. The amendments add escrow services for issue management, buyback, delisting, and open offers; require opening a separate bank account for depositing proceeds of initial and further public offers; permit the Board to specify other activities; and mandate that no person shall act as a banker to an issue unless a certificate of registration has been obtained from the Board, with consequential renumbering of existing sub regulations.
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Banker to an Issue registration expands to cover escrow services and separate IPO proceeds accounts.
The amendments add escrow services for issue management, buyback, delisting, and open offers; require opening a separate bank account for depositing proceeds of initial and further public offers; permit the Board to specify other activities; and mandate that no person shall act as a banker to an issue unless a certificate of registration has been obtained from the Board, with consequential renumbering of existing sub regulations.
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