Underwriting

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ue, it shall, prior to the filing of the prospectus, enter into an underwriting agreement with the merchant bankers or stock brokers registered with the Board to act as underwriters, indicating therein the maximum number of specified securities they shall subscribe to, either by themselves or by procuring subscription, at a predetermined price which shall not be less than the issue price, and shal....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and syndicate member(s): Provided that at least seventy five per cent. of the net offer proposed to be compulsorily allotted to qualified institutional buyers for the purpose of compliance of the eligibility conditions specified in sub-regulation (2) of regulation 103 shall not be underwritten. (b) the issuer shall, prior to the filing of the prospectus, enter into an underwriti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....not be less than the issue price, and shall disclose the fact of such underwriting agreement in the red herring prospectus. (d) if the syndicate member(s) fail to fulfil their underwriting obligations, the lead manager(s) shall fulfil the underwriting obligations. (e) the lead manager(s) and syndicate member(s) shall not subscribe to the issue in any manner except for fulfilling ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....read as, "Underwriting 136. (1) If the issuer making a further public offer, other than through the book building process, desires to have the issue underwritten, ^1[it shall appoint merchant bankers or stock brokers, registered with the Board, to act as underwriters]. (2) If the issuer makes a public issue through the book building process, (a) the issue shall be underwritte....