Names And Purpose?

According to market cynics, the presence of I-Sec or IDBI's merchant banking division seems to indicate that the project has been able to tie-up the term loan portions of the project, while the presence of SBI Caps or other banks like ANZ Grindlays would seem to indicate that the company has sorted out its working capital problems as well.

So while these lead managers are not expected to garner massive subscriptions except from insitutitonal clients, their presence does send informal signals to investors that the rest of the project's finance has been completely organised and sorted. However, the sad part is that these subtle signals do not seem to be permeating into the investor psyche.