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Book Running Lead Manager (BRLM) or Lead Manager performs all the pre and post issue activities. Pre-issue activities involves due diligence of company’s Operations/ Legal / Management / Business plans etc., designing & drafting Offer Document, Prospectus, memorandum for salient features of Prospectus and statutory advertisements. BRLM should ensure to comply with stipulated requirement and formalities in prescribed formats with SEBI, Stock Exchanges, Registrar of Companies (ROC). They also have market the issue and appoint other intermediaries like Advertising Agency, Registrar, Bankers and Printers. Activities like managing escrow accounts, allocation to non-institutional, intimation of allocation and dispatch of refunds to bidders forms the part of Post-issue process. The post offer activities also involve necessary follow-ups, which includes finalization of trading, dealing of instruments, dispatch certificates, demat of delivery of shares with different agencies associated with the work like Registrar to issue, Banker to issue and Bank handling refund operations. BRLM coordinates with Registrar and Escrow Bankers to ensure follow up for proper flow of applications from bank branches to registrar and processing of these applications and other works till the Basis of Allotment is finalized. The Lead Manager is responsible to arrange necessary agreements and documents between these agencies and the Company. They should ensure that these agencies fulfill their functions and discharge responsibilities according to the agreements.
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