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Explain Bankers to the issue.
Bankers to the issue is the collection of activities which are performed by the banker to an issue such as submission of application, application with money from investors. To adhere to the rules a certificate has to be obtained by a person from SEBI which grants the registration on the basis of all the activities performed by the banker to an issue. The requirements are as follows:-
1) The application must be complete and the applicant must have the infrastructure, communication and data processing facilities to run those activities effectively.
2) Directors of applicant are not involved in any of this application and don’t have any securities market.
3) Banker to an issue also has to take care of some information like number of issues which is coming to the banker, number of application with the money, dates on which the application is been received and date on which the refund is done to the investors.
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