What is the role of bankers to the issue in an SME IPO?

In an IPO, it is the duty of bankers to the issue to ensure that all the funds are received and transferred to the Escrow accounts. Lead manager appoint bankers to the issue at all the collection centers who are engaged in banking-related activities such as follows;

Role of bankers to the issue

• Acceptance of applications along with the application money
• Transfer funds to the company promoters
• Process refunds to rejected applicants