The main parties involved in the issue of shares are the issuing company , investors/subscribers , and several intermediaries that help the issue run smoothly. Common intermediaries include merchant bankers/managers to the issue , registrars , underwriters , bankers , brokers , and sometimes advertising agencies.

Main parties

  • Issuing company : The company that wants to raise money by offering shares to the public.
  • Investors / applicants / shareholders : People or institutions that apply for and buy the shares.
  • Managers to the issue / merchant bankers : They organize the issue, draft the prospectus, advise on timing, and coordinate the other agencies.
  • Registrars : They handle applications, allotment records, and investor communication.
  • Underwriters : They may guarantee subscription for part of the issue if investors do not fully subscribe.
  • Bankers to the issue : They collect application money and handle payment-related work.
  • Brokers / market members : They help distribute or place the shares with investors in the market.
  • Advertising agencies : They help promote the issue to the public.

Simple way to remember

Think of it like this: the company is trying to raise funds, investors provide the money, and the intermediaries make sure the issue is marketed, processed, and settled properly.

In one line

If you are writing this for an exam or note, the short answer is: company, investors, merchant bankers, registrars, underwriters, bankers, brokers, and advertising agencies.

If you want, I can also turn this into a 2-mark exam answer or a table format.