Passage: Lending for initial public offers for manufacturing and infrastructure companies and stock options for employees would not be covered under the measures. Guarantees given by merchant banks for profits of companies seeking to list on the local bourse -- part of the securities commission's requirements -- are also exempted from the credit curbs.
What event has already finished? What event has begun but has not finished? What will happen in the future? What will not be covered during the measures? What happened after lending? What might happen during the measures? Might might happen during the credit curbs? What is happening during the credit curbs? What might happen while guarantees are given? What might happen while merchant banks are seeking to list?