What is the role of merchant banker?

Merchant bankers assist the issuer throughout the IPO process in preparing for listing. The role of the merchant banker in an SME IPO is essentially as follows:

1. Pre-IPO preparatory support - capital restructuring, appointment of market intermediaries.
2. Due diligence - gathering preliminary data of the company.
3. Valuation/issue pricing.
4. Prospectus and other documents.
5. Issue management - obtaining approvals, opening and closing of the IPO.
6. Post IPO closing support - allotment, listing, etc.
7. Post-IPO market making - market making, etc.

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