Regulation 69 - Appointment of Lead Managers - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

PART IV 1 [APPOINTMENT OF 4 [****] INTERMEDIARIES] 69. 5 [ **** ] 6 [ (4) The issuer shall appoint intermediaries which are registered with the Board after assessing the capability of intermediaries to carry out their obligations. ] (5) The issuer shall enter into an agreement with the 7 [ **** ] intermediaries as required under the respective regulations applicable to the intermediary concerned: Provided that such agreements may include such other clauses as the issuer and the intermediaries may deem fit without diminishing or limiting in any way the liabilities and obligations of the 8 [ **** ] intermediaries and the issuer under the Act, the Companies Act, 2013 3 [ **** ] , the Securities Contracts (Regulation) Act, 1956 , the Depositories Act, 1996 and the rules and regulations made thereunder or any statutory modification or statutory enactment thereof: Provided further that in case of ASBA process, the issuer shall take cognisance of the deemed agreement of the issuer with the self-certified syndicate banks. (6) The issuer shall appoint bankers to an issue, at centres as specified in Schedule XII . (7) The issuer shall appoint a registrar to the issue registered with the Board, which has connectivity with all the depositories: Provided that if the issuer itself is a registrar, it shall not appoint itself as a registrar to the issue 9 [ : ] 10 [ **** ] 2 [ **** ] ************** NOTES:- 1 . Substituted vide Notifivation No. SEBI/LAD-NRO/GN/2020/31 dated 28-09-2020 before it was read as APPOINTMENT OF LEAD MANAGERS, OTHER INTERMEDIARIES AND COMPLIANCE OFFICER 2 . Omitted vide Notifivation No. SEBI/LAD-NRO/GN/2020/31 dated 28-09-2020 before it was read as (8) The issuer shall appoint a compliance officer who shall be responsible for monitoring the compliance of the securities laws and for redressal of investors grievances. 3 . Omitted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as or the Companies Act, 1956 (to the extent applicable) 4 . Omitted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, LEAD MANAGERS AND OTHER 5 . Omitted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, (1) The issuer shall appoint one or more merchant bankers, which are registered with the Board, as lead manager(s) to the issue. (2) Where the issue is managed by more than one lead manager, the rights, obligations and responsibilities, relating inter alia to disclosures, allotment, refund and underwriting obligations, if any, of each lead manager shall be predetermined and be disclosed in the draft letter offer and the letter of offer as specified in Schedule I : (3) At least one lead manager to the issue shall not be an associate (as defined under the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 ) of the issuer and if any of the lead manager is an associate of the issuer, it shall disclose itself as an associate of the issuer and its role shall be limited to marketing of the issue. 6 . Substituted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, (4) The issuer shall, in consultation with the lead manager(s), appoint other intermediaries which are registered with the Board after the lead manager(s) have independently assessed the capability of other intermediaries to carry out their obligations. 7 . Omitted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, lead manager(s) in the format specified in Schedule II and also enter into agreements with other 8 . Omitted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, lead manager(s), other 9 . Substituted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, ; 10 . Omitted vide F. No. SEBI/LAD-NRO/GN/2025/233 dated 03-03-2025 w.e.f. 03-03-2025 (For effective date in certain cases see Notification) before it was read as, Provided further that a lead manager shall not act as a registrar to the issue in which it is also handling the post-issue responsibilities.