State and describe the role of various Participants who operate and facilitate various operations in the Primary markets in India.

In the Indian equity markets, the primary market serves as a crucial avenue for companies to raise capital by issuing new securities such as stocks or bonds directly to investors. Various participants play distinct roles in facilitating and operating different operations within the primary market. These participants ensure smooth functioning and efficient capital allocation. Let's delve into the roles of these key players:

1. Issuing Companies:
   - These are the entities looking to raise capital by issuing new securities in the primary market.
   - They initiate the process by deciding on the type and quantum of securities to be issued, the pricing, and the timing of the issue.
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