The Book Runners
In order to promote the Primary Market, SECP had introduced the Book Building mechanism in IPOs in the year 2008. In order to improve further and to bring efficiency and transparency in the Book Building process, SECP has reviewed the framework for book building and had promulgated the Book Building Regulations 2015 on 1st July 2015. Book Runner being an important role player of the book building process is required to be registered with the Commission under the book building regulations for providing business as a Book Runner. Book Building Regulations prescribes the eligibility conditions, registration procedure and Duties and responsibilities of Book Runners.
Registration of Book Runners
An application for registration as a Book Runner shall be made to the Commission in Form-A along with all the documents specified in Annexure-A and receipt evidencing payment of non-refundable fee of such amount as set out in Schedule-I. The Commission, while considering the application for registration, may require the applicant to furnish such further information or clarification regarding its activities and businesses as it deems appropriate.
Renewal of Book Runners
For renewal of registration, a Book Runner shall apply to the Commission, three months prior to the date of expiry of its registration, as per Form-C providing therewith a receipt evidencing payment of a non-refundable renewal fee of such amount as prescribed in Schedule-I and such documents as specified in Annexure-B. The Commission if satisfied that the applicant continues to meet the requirements for registration and is eligible for renewal of registration shall renew the registration of Book Runner and issue a certificate of renewal of registration to the applicant in Form-D.
The detailed procedure for registration/renewal and Annexures and Forms as mentioned above may be seen in the