Lead managers are independent financial institutions responsible for guiding and navigating the IPO process to be completed smoothly for a company that might be going public. From the initial processes of the IPO to the final listing of the stock on the stock market, lead managers handle them all.
Lead managers are quite important when it comes to the management of a company’s IPO. They are responsible for creating awareness about the IPO, processing application, and submitting necessary documents to the SEBI to help kickstart the IPO process and get the company’s stocks listed on the stock market.
Based on the type of IPO being small or big, there can be more than one lead manager. Their designation changes where they are the book running lead manager and co book-running lead manager.