Monday, October 9, 2017

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Classification of Merchant Banking In India

Classification of Merchant Banking In India

According to the Securities Exchange Board of India regulations, merchant bankings are classified into the following categories on the basis of their activities and capital adequacy. The merchant banking must register themselves with Securities Exchange Board of India.

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(1). Under Category I, the minimum net worth for capital adequacy required is Rs. 5 Crore while the activities permitted by SEBI includes Issue Manager, Advisor, Consultant, Underwriter and Portfolio Manager services.

(2). Under Category II, the minimum net worth for capital adequacy required is Rs. 50 Lakhs while the activities permitted by SEBI includes Advisor, Consultant, Underwriter and Portfolio Manager services.

(3). Under Category III, the minimum net worth for capital adequacy required is Rs. 20 while the activities permitted by SEBI includes Lakhs Advisor, Consultant and Underwriter services.

(4). Under Category IV, no minimum net worth is required for capital adequacy and the activities permitted by SEBI includes Advisor and Consultant services only.

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