1. Merchant Banker:As per SEBI (Merchant Banker) Regulations, 1992:
Merchant banker’ is defined as any person who is engaged in the business of issue management, either by making arrangements regarding selling, buying, or subscribing, or acting as a manager, consultant, or advisor, or rendering corporate advisory services in relation to such issue management.
It is mandatory to appoint a merchant banker in case of both public issues and rights issues, and his task mainly is that of a facilitator or coordinator.
Merchant bankers are responsible for coordinating the procedure of issue management by assisting underwriters, registrars and bankers in activities of pricing and marketing of the issue and complying with SEBI rules and guidelines. eg- axis bank, bajaj capital, bank of maerica