[Under Securities and Exchange Board of India (Merchant Bankers) Regulation, 1992]
Statistically around 215 entity are available in India doing business of merchant banker as per data published by Securities and Exchange Board of India [SEBI]. Maximum registered entity are in the form of Public Limited followed by Private Limited Company incorporated as per Companies Act, 2013. Few of entity are in the form Limited Liability Partnership registered under Limited Liability Partnership Act, 2008.
Merchant Banker refers to entity registered with SEBI with specific purpose and guidelines of activities to pursue in financial market per se securities market. It means any person who is engaged in the business of issue management either by making arrangements regarding selling, buying or subscribing to securities issued by corporate who is in process of or already listed in securities market or acting as manager, consulting, adviser or rendering corporate advisory service in relation to such issue either fresh or post fresh issue management.
Issue means an offer of sale or purchase of securities by anybody corporate, or by any other person or group of person on its or his or their behalf, as the case may be, to or from the public, or the holders of securities of such body corporate or person or group of persons through merchant banker.