The Securities Exchange Board of India vide circular dated October 21, 2021 has clarified Modalities for filing of placement memorandum through a Merchant Banker. The Merchant Banker shall independently exercise due diligence of all the disclosures in the placement memorandum, satisfy itself with respect to veracity and adequacy of the disclosures and provide a due diligence certificate.
While filing draft placement memorandum at the time of registration or prior to launch of new scheme on the SEBI intermediary portal, the due diligence certificate provided by the Merchant Banker shall also be submitted, along with other necessary documents. The details of the Merchant Banker shall be disclosed in the placement memorandum.
