Agreement for Underwriting Shares of a Company (India)
This template is an underwriting agreement where a firm agrees to purchase any unsold equity shares from a company's public offering. It outlines the responsibilities of the underwriters to ensure the subscription is met and defines the commission payable by the company for these services.
Agreement for Underwriting Shares of a Company
This Agreement made at ................. on this .................. of ................... 2000, between ABC Ltd., a company incorporated under the Companies Act, 1956 and having its registered office at .................... hereinafter called "the company" (which expression shall, unless it be repugnant to the context or meaning thereof be deemed to mean and include its successors and assigns) of the ONE PART and M/s. XYZ a partnership firm registered under the Partnership Act, 1932 and having its place of business at .................. hereinafter called "the underwriters", (which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include every partner for the time being of the said firm, the survivor or survivors or the legal representatives, executors or administrators of the last partner) of the Other Part.
Whereas the company proposes to issue ............... equity shares of to Rs ..................... each and offer the same for public subscription at Rs ....................... per share in accordance with the terms of the draft prospectus, a copy of which is annexed hereto, or with such modifications therein as may be mutually agreed upon between the company and the underwriters.
and Whereas the underwriters have agreed to underwrite the subscription of the said shares on the terms and conditions hereinafter appearing.
Now it is hereby Agreed between The Parties as Follows:
1. The company shall issue ...................... equity shares of Rs . ............ each for public subscription in terms of the draft prospectus, a copy of which is annexed hereto or with such modification therein, as may be mutually agreed upon between the parties, on or before the ................... day of …………. 2000, or such later date as shall be mutually agreed upon by the parties hereto not after the .......... day of ....................... 2000.
2. The underwriters shall on or before the closing of the subscription list apply for the .................... shares or cause the same to be applied for by the responsible persons, who shall pay on application, the application moneys payable on the shares applied for by them respectively and who shall not withdraw their applications before notification of allotment of shares to them.
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