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CS Professional · IFSCA - Regulations, Listing and Compliances · Listing and Issuance of Securities

Nimbus Tech Ltd proposes a public issue of equity shares on an IFSC exchange. Who must be appointed to manage the issue and carry out due diligence on the offer document?

The issue must be managed by a lead manager or merchant banker registered or recognised by IFSCA, who performs due diligence and files the offer document. An auditor, depository participant or Registrar of Companies does not have this function in a public issue.

  1. AThe company's statutory auditor alone
  2. BA merchant banker or equivalent lead manager registered or recognised by IFSCACorrect
  3. CThe depository participant of the promoters
  4. DThe registrar of companies in India

Explanation

A public issue in the IFSC must be managed by a lead manager (merchant banker-type intermediary) registered with or recognised by IFSCA, who conducts due diligence and files the offer document. Auditors, depository participants and the Registrar do not perform this role.

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