What is the role of Lead Managers in an IPO?

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Lead managers are a group of the merchant or syndicate bankers hired by the company which has decided to go for an initial public offering. Usually, companies hire more than one banks for this purpose and most of the times on average 3 banks are hired by most the companies going for an IPO.

The main role of these bankers is to decide on the different things of the IPO requirements and also preparing all the document like the red hearing prospectus which are required for getting approval from SEBI and also from stock exchanges. These group also helps the company at different stages of IPO right from the opening of the issue to finalizing the basis of allotment for issuing shares to the investors.

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