Who Are The Various Intermediaries In A Public Issue?
AThe Issuing Company has to appoint various intermediaries for the issue process. The various intermediaries involved are: • Book Running Lead Managers (BRLMs) • Bankers to the Issue • Underwriters • Registrars to the Issue etc. What Is The Role Of The Intermediaries? Book Running Lead Managers: The Company issuing shares appoints the BRLM or the Lead Merchant Bankers. The role of the BRLM can be divided into two parts, viz., Pre Issue and Post Issue. The Pre Issue role includes compliance with the stipulated requirements of the SEBI and other regulatory authorities, completion of formalities for listing on the Stock Exchanges, appointing of various agencies such as advertising agencies, printers, underwriters, registrars, bankers etc. Post Issue activities include management of escrow accounts, deciding the final issue price, final allotment, ensuring proper dispatch of refunds, allotment letters and ensuring that each agency is carrying out their part properly. Bankers to the Issue:
