Trusteeship Services - Monitoring Agency Services
Axis Bank is a SEBI registered Debenture Trustee which offers Monitoring Agency Services in India.
The Monitoring Agency Servicesincludemonitoring that the proceeds of the IPO /FPO are utilised for the purpose for which the funds were raised, submission of half yearly reports to the designated stock exchange and executing a tripartite escrow agreement to monitor the flow of the proceeds.
The duties include:
- Monitoring that proceeds of the Initial Public Offering / Follow - on Offering of shares, are utilised for the objects for which the funds were raised
- Submission of a half yearly report to the designated stock exchange
- Executing a tripartite escrow agreement to monitor the flow of the proceeds in accordance with the objects of the issue