Lead managers are the independent financial bodies appointed by the institution which is going public. The companies generally appoint more than one lead managers who can manage a big number of IPOs. these managers are also called as Book Running Lead Manager or Co-Book Running Lead Managers.
Their main role of lead managers includes initiating the processing of IPO, helping the company in roadshows, creating the draft offer documents, and getting the drafts documents approved by stock exchanges and SEBI. these lead managers also help the company to list shares at stock market.
Lead managers are also known as investment bankers.