Comment on the following statements: An institutional placement programme shall be managed by merchant banker(s) registered with SEBI.
CS Executive · Capital Markets & Securities Laws · PYQS · June 2015
Comment on the following statements: An institutional placement programme shall be managed by merchant banker(s) registered with SEBI.
Answer & Explanation:
An institutional placement programme shall be managed by merchant banker(s) registered with SEBI who shall exercise due diligence. The merchant banker is required to file a copy of offer document with SEBI and the stock exchanges. The merchant banker shall submit to SEBI a due diligence certificate, stating that the eligible securities are being issued under institutional placement programme and that the issuer complies with requirements of Chapter VIII-A of SEBI (ICDR) Regulations, 2009.
Topics: Primary Market
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