Glossary
Monitoring agency
An agency appointed to report on how an issuer uses the proceeds of a fresh issue, required for SME issues from INR 50 crore of fresh issue since March 2025.
A monitoring agency is an agency appointed by an issuer to monitor and report on the use of the proceeds of a public issue against the objects stated in the offer document. For an SME issue it is required by regulation 262 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The amendment of 4 March 2025 lowered the trigger for an SME issue from INR 100 crore to INR 50 crore of fresh issue. The figure is measured on the fresh issue alone, so the offer for sale does not count towards it. In the illustration in our note of 21 September 2026, a INR 30 crore issue with INR 24 crore of fresh issue does not trigger the requirement.
Used in
Sources
Cite this termMonitoring agency. Juris Eagle glossary. Stated as at 21 September 2026. https://juriseagle.com/glossary/monitoring-agency