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Lead Manager

A lead manager is the merchant banker appointed by the issuer company to carry out the entire IPO process.

A lead manager is the merchant banker appointed by the issuer company to carry out the entire IPO process. A lead manager is also known as the Book Running Lead Manager (BRLM).

A merchant banker is a SEBI registered financial institution that assists the corporates with financial solutions like helping in fundraising, providing consultancy services, acting as underwriters, and much more.

A company can appoint one or more than one merchant bankers, of whom one acts as the lead manager. The lead manager plays a very crucial role in an IPO as the lead manager is responsible for the entire IPO process.

Lead manager's pre IPO activities includes Drafting and design of Offer documents, Prospectus, statutory advertisements and memorandum. Also they draws up the various marketing strategies for the issue. The post issue activities of lead manager includes coordinate non-institutional allocation, intimation of allocation and dispatch of refunds to bidders, management of escrow accounts etc.

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