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Securities And Exchange Board Of India - Section
Section 19 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
19. Restriction on appointment of lead managers.-
The number of lead merchant bankers may not, exceed in case of any issue of-| Size of Issue | Number of lead merchant bankers |
| (a) Less than rupees fifty crores | Two |
| (b) Rupees fifty crores but less than rupees one hundred crores. | Three |
| (c) Rupees one hundred crores but less than two hundred crores. | Four |
| (d) Rupees two hundred crores but less than four hundred crores. | Five |
| (e) Above rupees four hundred crores. | Five or more as may be agreed by the Board |