· Appointment of a monitoring Agency is mandatory in terms of SEBI guidelines wherever the public issue is Rs.500 crores or more. However, The Regulating agency (SEBI/SEs) may also appoint Monitoring Agency for Public Issues on case to case basis (amount below Rupees 500 crores also).
· The assignment requires the agency to monitor the investments of the IPO funds in the various projects for which the funds are raised by the issuer company from the public. Project implementation progress report shall be submitted to SEBI on half yearly basis till full utilisation of the funds raised.
· Our Bank has been working as “Monitoring Agency” for raising equity through public issues.
Merchant Appraisal
Our Bank undertakes Merchant appraisal of such of those projects where the project cost is more than Rs 25 crores or as per SEBI directions.
Customers are requested to call on our mentioned Toll Free Numbers only for any complaints/issues. Bank shall not be responsible for any consequences arising out of customers calling any other unverified numbers.
