An IPO Registrar is appointed by the company issuing its shares to manage various aspects of the IPO process, as mandated by the Securities and Exchange Board of India (SEBI).
Simply put, the primary responsibility of the registrar is to manage the entire IPO registration process. However, the role of the registrar stays relevant from the initial filing of the prospectus with SEBI to the allotment of shares to investors. Here is a summary of the key responsibilities and roles of a registrar of an IPO:
Verify investor details: The registrar is responsible for verifying the details provided by the investors in the application forms and checking for errors or discrepancies.
Allot shares: The registrar is responsible for allotting shares to investors after verifying the number of shares applied for and the payment made by the investor, based on the allocation rules decided by the company and under the guidance of depositories, such as NSDL and CDSL. Wherever applicable, the role of the registrar also includes refunding the excess payment to the applicant.
Provide post-IPO services: After the IPO is completed, the IPO registrar provides services such as handling share transfers, issuing duplicate certificates, and processing dividends.
Compliance with SEBI regulations: The registrar is responsible for ensuring compliance with SEBI regulations related to IPOs and all investor complaints and grievances are resolved in a timely and efficient manner.