An underwriter is an entity or a corporate that evaluates and assumes another entity’s risk for a fee, such as commission, premium, spread or interest. Underwriters operate in many aspects of the financial scenario, including the mortgage industry, insurance industry, equity markets and common type of debt securities.
Who are underwriters under SEBI Act?
Criteria
Getting a License under underwriting involves an application to SEBI under Securities Exchange Board of India (Underwriters) Regulations, 193
1.He should hold a certificate granted to it by the Board.
2.Every stock broker or merchant banker holding a valid certificate of registration under section 12 of the Act, shall be entitled to act as an underwriter without operating a separate license.
3.He should be a fit and proper person as defined under schedule II of SEBI (Intermediaries) Regulations, 2008.
4.Capital adequacy- 20 Lakhs.
Reviewed by: BIATConsultant CA, CS, legal, tax, finance, and compliance expert team.
Last reviewed: May 28, 2026.
Relevant official references: Securities and Exchange Board of India.
Important note: Timelines, government fees, professional fees, document requirements, and approvals depend on the applicable authority, applicant profile, document readiness, and current regulatory process.
FAQ
Common Questions Our Customers Ask Us - Solved!
What is registration process?
An Application by an Underwriter for a grant of certificate is made in Form A accompanied by non- refundable fees.
However the Board may require the underwriter to submit further information in order to consider the application. It may take the following things as criteria for consideration of the application.
1.Necessary infrastructure, office space, equipments’, manpower.
2.Any past experience in underwriting or has in employment minimum 2 persons who have such experience.
3.Any such persons directly or indirectly connected with applicant has not been granted certificate earlier.
4.Fulfills the capital adequacy norms.
5.Is a fit and proper person.
Therefore, after getting satisfied by the eligibility of the application, shall send an intimation to applicant, and then will issue certificate of registration or license to act as an underwriter in Form B.
Certificate shall be valid for a period of 5 years.
What Is Registration Fees Involved In This?
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