Sebi pulls up I-banks over lack of proper IPO disclosures on the promoter group
Last year, the Securities and Exchange Board of India (Sebi) had issued an advisory to investment banks, asking them to furnish either an affidavit from such a family member or members, clearly stating they do not want to be classified as part of the promoter group, or a memorandum of understanding (MoU) between the promoter and the family member.
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