The term Merchant Banking has its origin in the trading methods of countries in the late eighteenth and early nineteenth century when trade-taking place was financed by bill of exchange drawn by merchanting houses

All lead managers, before taking up the assignment relating to an issue, shall enter into an agreement with the concerned company setting out their rights and obligations. In case more than one lead manager is associated, their demarcation of responsibilities is a must. A minimum underwriting agreement is to be made. A Lead manager cannot manage an issue of its associate company. No lead manager can exit during the issue period.