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Merchant banking and Burn rate
4 Conditions SBI Grant -
1.On payment of the registration fee.
2. On condition that the merchant banker would redress investor grievances within 1 month of investor complaint and would inform SEBI of all such complaints received .
3. Only if the application has the necessary infrastructure and manpower to carry ot the function as merchant banker .
4. A minimum of 2 persons who have the experience to conduct the business of merchant banking should be under the employment of the applicant.
Categories -
Category 1 - Can carry on all activities relating to management of issues such as preparation of prospectus , determining financial structure , conduct of market surveys , raising funds form capital market , raising funds through new instruments , arranging bought out deals and to provide advice on mergers and amalgamation , loan syndication , technology tie ups , working capital finance , VC , Lease finance etc.
Category 2 -To act as advisor , consultant , co - manager , underwriter and portfolio manager
Category 3 - To act as a underwriter , advisor and consultant to issue
Category 4 - To act as an advisor or consultant to an issue.
Summary of Categories
- Category 1 - 1. Issue management
- Category 2 -1.Advisor
- Category 3 - 1. Underwriter
- Category 4 - 1. Advisor
- An application for grant of a certificate needs to be made to SEBI.
- The following application can be made for any one of the following categories
- For underwriter or portfolio manager a separate certificate of registration needs to be obtained from SEBI.
- The applicant must fulfil the capital adequacy requirements as follow -
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