A book runner is a lead merchant banker who is appointed by the issuer company for maintaining and managing the book-built issue of the company. It keeps a record of all the bids from investors and helps the company determine the final issue price. While a company going public needs to have a minimum of one book-running lead manager, there can be more than one book-runner for an issue as well. The name of the book-running lead manager will be mentioned in the offer document of the issuer company.