Give reasons for the following statements (4 5 lines)

1. Underwriting is not compulsory; despite this, a number of reputed companies for their public issue go in for at least partial underwriting

2. While the percentage allotment for non-retail investors in a book-built issue is the maximum, the % allotted to retail investors is the minimum

3. Any VCF wants to exercise exit option say after 5 years of funding

4. VCF does not do angel funding or incubation funding in India whereas this is being done regularly by them in foreign countries

5. A sharebroker is the only common service intermediary between the primary and secondary markets; his role is different. What are his roles in these two segments?