SEBI Mandates Merchant Bankers to Subscribe to Securities of Body Corporate Before Allotment Finalization
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- Last Updated on 2 December, 2024
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Notification No. F. No. SEBI/LAD-NRO/GN/2024/214; Dated: 29.11.2024
SEBI has notified the SEBI (Merchant Bankers) (Amendment) Regulations, 2024. As per the amended norms, a merchant banker, when called upon pursuant to an agreement for underwriting to subscribe to the securities of a body corporate, must subscribe to the said securities before finalizing the basis of allotment. Further, the merchant banker must inform the Board of any changes in the information submitted while seeking registration within 7 working days of such change.
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