CORPORATE FUNDING LISTING IN STOCK EXCHANGE JUNE 2021 ATTEMPT BY ANKUSH BANSAL FOR NEW COURSE

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Chapter
No.
Chapter Name
PART-A [60 MARKS]
Page
No.
Chapter 1 Indian Equity – Public Funding 1-93
Chapter 2 Real Estate Investment Trusts 94-116
Chapter 3 Infrastructure Investment Trusts 117-136
Chapter 4 Indian Equity – Private Funding 137-159
Chapter 5 Indian Equity Non-Fund Based 160-186
Chapter 6
Debt Funding – Indian Fund Based
(Corporate Debt)
187-217
Chapter 7
Debt Funding – Indian Fund Based
(Government Debt & Banking Finance)
218-240
Chapter 8
Debt Funding – Indian Non-Fund
Based
241-251
Chapter 9
Foreign Funding – Instruments &
Institutions
252-277
Chapter 10 Other Borrowings Tools 278-304
Chapter 11
Non-Convertible Redeemable
Preference Shares
305-315
Chapter 12 Securitization 316-327
PART-B [40 MARKS]
Chapter 13
Listing- Indian Stock Exchange [listing
regulations 2015]
328-385
Chapter 14 International Listing 386-397
Chapter 15
Preparing a Company for an IPO and
Governance Requirements
398-409
Chapter 16 Documentation 410-429
Question Paper of December 2020
INDEX
CS ANKUSH BANSAL
Indian Equity- Public Funding 1 | P a g e
All Activities
Before
All Activities
After
Chapter-1
Indian Equity – Public Funding
1) INTRODUCTION
SEBI in its endeavor to provide issuers and investors with an efficient mechanism for
raising funds, has been continuously striving to streamline the process and methodologies associated
with public issue fund raising process.
Management of a public issue involves Coordination of Activities and Cooperation of a Number of
Agencies such as:
The whole process of issue of shares can be divided into 2 Parts
a) Pre-issue activities: All activities beginning with the planning of capital issue TILL the opening
of the subscription list are pre-issue activities and
b) Post issue activities: All activities subsequent to the opening of the subscription list may be
called post issue activities.
NOTE: Since only the Demat shares are being admitted for dealings on the stock exchanges,
hence the securities can be issued only in Dematerialised Form.
2) TYPES OF MARKET
PRIMARY MARKET SECONDARY MARKET
Primary Market deals with those securities which
are issued to the public for the first time.
Primary Market provides an opportunity to the
issuers of securities, Government as well as
corporates, to raise financial resources to meet
their requirements of investment and/or
discharge their obligations.
The secondary market is where investors buy
and sell securities they already own.
It is what most people typically think of as the
“stock market”, though stocks are also sold on
the primary market when they are first issued.
Managers
to the
issue,
Underwriters
Brokers
Registrar
to the
issue;
Solicitors/
legal
advisors
Printers
Publicity
and
Advertising
agents
Financial
Institutions
Auditors
Other
Government/
Statutory
agencies
The opening of
the subscription
list
Pre-issue
Activities
Post-issue
Activities
CS ANKUSH BANSAL
Indian Equity- Public Funding 2 | P a g e
3) SOME IMPORTANT DEFINITIONS [REGULATION 2]
• Specified Securities: means Equity Shares and Convertible Securities.
• Convertible Security: means a security which is convertible into or exchangeable with equity
shares of the issuer at a later date, with or without the option of the holder of such security and
includes Convertible Debt Instrument and Convertible Preference Shares.
• Convertible Debt Instrument: means an instrument which creates or acknowledges indebtedness
and is convertible into equity shares of the issuer at a later date with or without the option of the
holder of the instrument, whether constituting a charge on the assets of the issuer or not.
• Issuer: means a company or a body corporate authorized to issue SPECIFIED SECURITIES
under the relevant laws and whose specified securities are being issued and/or offered for sale
in accordance with these regulations;
• Initial Public Offer: means an offer of specified securities by an UNLISTED ISSUER to the
public for subscription and includes an offer for sale of specified securities to the public by any
existing holders of such specified securities in an Unlisted Issuer.
• Further Public Offer: means an offer of specified securities by a LISTED ISSUER to the public
for subscription and includes ab offer for sale of specified securities to the public by any existing
holders of such specified securities in a Listed Issuer.
• Public Issue: means an Initial Public Offer or a Further Public Offer;
• Listed Issuer: means an issuer whose equity shares are listed on a recognized stock exchange
having nationwide trading terminals;
• Unlisted Issuer: means an issuer which is not a listed issuer.
• Selling Shareholder(s): means any shareholder of the issuer who is offering for sale the specified
securities in a public issue in accordance with these Regulations;
• Book Building: means a process undertaken to elicit demand and to assess the price for
determination of the quantum or value or coupon of-
(i) Specified Securities, or
(ii) Indian Depository Receipts,
As the case may be, in accordance with these regulations;
• Issue Size: includes Offer through Offer Document and Promoter’s Contribution brought in
as part of the issue;
• Offer Through Offer Document: means Net Offer and Reservations;
• Net Offer: means an offer of specified securities to the public but does not include reservations
and promoters’ contributing brought in as part of the issuer;
• Offer Document: means a red herring prospectus, prospectus or shelf prospectus, as applicable,
referred to under the Companies Act, 2013, in case of a public issue, and a letter of offer in case of
a right issue;
CS ANKUSH BANSAL
Indian Equity- Public Funding 3 | P a g e
• Draft Offer Document: means the draft offer documents filed with the Board in relation to a public
issue or right issue, along with an authorization to self-certified syndicate bank to block the
application money in a bank account;
• Application supported by Blocked Amount (ASBA): means an application for subscribing to a
public issue or rights issue, along with an authorization to Self-Certified Syndicate Bank to
block the application money in a bank account;
• Self Certified Syndicate Bank: means a banker to an issue registered with the Board, which offers
the facility of ASBA;
• Stock Exchange: means any recognized stock exchange having nationwide trading terminals
chosen by the issuer on which securities of an issuer are listed or proposed to be listed for the purpose
of a particular issue of specified securities under these regulations, other than an SME exchange;
• Designated Stock Exchange: means a recognized stock exchange having nationwide trading
terminals chosen by the issuer on which securities of an issuer are listed or proposed to be listed
for the purpose of a particular issue of specified securities under these regulations;
Provided that, the issuer may choose a different recognized stock exchange as a designated
stock exchange for any subsequent issue of specified securities;
• Main Board: means a recognized stock exchange having nationwide trading terminals, other than
SME exchange;
• SME Exchange: means a trading platform of a recognized stock exchange having nationwide
trading terminals permitted by the Board to list the specified securities issued in accordance with
Chapter IX and includes a stock exchange granted recognition for this purpose BUT DOES
NOT INCLUDE the Main Board;
• Lead Manager: means a merchant banker registered with the Board and appointed by the issuer
to manage the issue and in case of a Book Built issue, the lead manager(s) appointed by the issuer
shall act as the Book Running Lead Manager (s) for the purposes of book building;
• Syndicate Member: means an Intermediary registered with the Board and who is permitted to
accept bids, applications and place orders with respect to the issue and Carry on the Activity as
an Underwriter;
• Retail Individual Investor: means an individual investor who applies or bids for specified
securities for a value of not more than 2,00,000 rupees;
• Non-Institutional Investor: means an investor other than a retail individual investor and
qualified institutional buyer;
• Qualified Institutional Buyer: means:
(i) A Mutual Fund, Venture Capital Fund, Alternative Investment Fund and Foreign
Venture Capital Investor registered with the Board;
(ii) [Foreign portfolio investor other than Category III foreign portfolio investor other than
individuals, corporate bodies and family offices];
(iii) A Public Financial Institution; [PFI]
(iv)

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