Regulation 81 - Underwriting - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

81. (1) If the issuer desires to have the issue underwritten, 1 [ it shall appoint merchant bankers or stock brokers, registered with the Board, to act as underwriters: ] Provided that the issue can be underwritten only to the extent of entitlement of shareholders other than the promoters and promoter group. (2) In case of every underwritten issue, the lead manager(s) shall undertake minimum underwriting obligations as specified in the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 . ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as it shall appoint underwriters in accordance with the Securities and Exchange Board of India (Underwriters) Regulations, 1993.