Role of Registrars and Lead Managers in IPO : Behind the Scenes
introduction
When a company launches an IPO, many teams work behind the scenes. Two of the most critical are registrars and lead managers. They make sure the IPO process runs smoothly.
👥 Who Are IPO Registrars?
IPO registrars are SEBI-registered firms. They keep records of investors and applications. Their role includes:
- Validating applications
- Checking investor categories
- Ensuring proper allotment
- Managing refunds and communication
- Publishing allotment status
Common IPO Registrars:
- Link Intime India Pvt Ltd
- KFin Technologies Ltd
They are the backbone of allotment.
💼 What Do Lead Managers Do?
Also known as Book Running Lead Managers (BRLMs), they are merchant bankers who manage the IPO process. They handle:
- Drafting and filing the DRHP
- Marketing the IPO to investors
- Setting the price band
- Coordinating with SEBI and stock exchanges
- Overseeing the allotment and listing
Top Lead Managers in India:
- Kotak Mahindra Capital
- ICICI Securities
- Axis Capital
- JM Financial
They are also responsible for underwriting and stabilizing share prices post-listing.
📈 Why Their Role Matters
Without these experts, IPOs could face technical glitches, regulatory issues, or investor confusion. Their coordination ensures trust, compliance, and transparency.
Registrars help ensure fair allotment. Lead managers help in pricing and demand management.
🧾 Step-by-Step IPO Process Involving Them
- Company appoints lead managers
- DRHP is filed and approved
- Registrars onboarded
- IPO opens for subscription
- Lead managers monitor demand
- Registrars verify bids
- Allotment is finalized
- Refunds and shares are processed
- Listing on exchange
📊 Conclusion
IPO registrars and lead managers play a key role in successful public listings. For investors, knowing their work builds confidence and helps spot red flags if anything goes wrong.
Share this content:
Post Comment