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A) Devolvement is nothing but the subscription to be taken up by an underwriter in a public offer that is in excess of his underwriting obligation

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A) Devolvement is nothing but the subscription to be taken up by an underwriter in a public offer that is in excess of his underwriting obligation.

(a) True       (b) False

B. In computing the devolvement liability of an underwriter, the pro-rata excess procurement of other  underwriters is netted out of the under-procurement of the first underwriter.

(a) True     (b) False

C.  In a book-built offer, the underwriting obligation is only to the extent of the NPO as reduced by the  promoters’ contribution and reservations.

(a) True     (b) False