Merchant bankers assist the issuer throughout the IPO process in preparing for listing. The role of the merchant banker in an SME IPO is essentially as follows:
Pre-IPO preparatory support - capital restructuring, appointment of market intermediaries.
Due diligence - gathering preliminary data of the company.
Valuation/issue pricing.
Prospectus and other documents.
Issue management - obtaining approvals, opening and closing of the IPO.
Post IPO closing support - allotment, listing, etc.