Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
Stock Exchange Listing Mechanism on Main Board, SME Exchange & ITP ( Institutional Trading Platform )

Stock Exchange Listing Mechanism on Main Board, SME Exchange & ITP ( Institutional Trading Platform )

Ratings: (0)|Views: 198|Likes:
Published by Pranav Khanna
Listing Mechanism, Procedures, Eligibility criteria ,cost advantage, benefits of listing, tax exemptions to listed company is explained.

Listing without IPO on ITP is explained and comparative analysis is given

Direct Listing on BSE Main Board is Also Explained
Listing Mechanism, Procedures, Eligibility criteria ,cost advantage, benefits of listing, tax exemptions to listed company is explained.

Listing without IPO on ITP is explained and comparative analysis is given

Direct Listing on BSE Main Board is Also Explained

More info:

Categories:Types, Presentations
Published by: Pranav Khanna on Feb 14, 2014
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

06/16/2014

pdf

text

original

 
󰁐󰁲󰁡󰁮󰁡󰁶 󰁋󰁨󰁡󰁮󰁮󰁡 󰀲󰀲󰀰󰀶󰀷󰀸󰀰󰀹󰀵󰀯󰀰󰀲󰀯󰀲󰀰󰀰󰀹
 
󰀱
Public Issue Management – Problems and Procedures
Sr No.
Contents Page No.
1 Initial Public Offer 2 2 Eligibility Requirements Main Board 4 3 Checklist of Documents to be submitted 11 4 Public Issue Process 16 5 Guidelines for Book Building 17 6 Reverse Book Building 18 7 Institutional Placement Programee 19 8 A.S.B.A 22 9 Direct Listing 24 10 SME Listing 27 11 Eligibility S.M.E Exchange 30 12 Difference in Main Board & SME Exchange 36 13 Cost of Listing 37 14 Institutional Trading Platform 38
 
󰁐󰁲󰁡󰁮󰁡󰁶 󰁋󰁨󰁡󰁮󰁮󰁡 󰀲󰀲󰀰󰀶󰀷󰀸󰀰󰀹󰀵󰀯󰀰󰀲󰀯󰀲󰀰󰀰󰀹
 
󰀲
Public Issue Management – Problems and Procedures
Initial Public Offering (IPO)
Initial Public Offer (IPO) is a process through which an unlisted Company can be listed on the stock exchange by offering its securities to the public in the primary market. The object of an IPO may be relating to expansion of existing activities of the Company or setting up of new projects or any other object as may be specified by the Company in its offer document or just to get its existing equity shares listed by diluting the stake of existing equity shareholders through offer for sale. Listing means admission of securities to dealings on a recognised stock exchange. The securities may be of any public limited company, Central or State Government, quasi governmental and other financial institutions/corporations, municipalities, etc. The objectives of listing are mainly to :
 
provide liquidity to securities;
 
mobilize savings for economic development;
 
protect interest of investors by ensuring full disclosures.
Benefits of Listing
Listing provides an exclusive privilege to securities in the stock ex¬change. Only listed shares are quoted on the stock exchange. Stock exchange facilitates transparency in transactions of listed securities in perfect equality and competitive conditions. Listing is beneficial to the company, to the investor, and to the public at large. The important advantages of listing are listed below:
 
Fund Raising and exit route to investors
Listing provides an opportunity to the corporates / entrepreneurs to raise capital to fund new projects/undertake expansions/diversifications and for acquisitions. Listing also provides an exit route to private equity investors as well as liquidity to the ESOP-holding employees.
 
Ready Marketability of Security
 
󰁐󰁲󰁡󰁮󰁡󰁶 󰁋󰁨󰁡󰁮󰁮󰁡 󰀲󰀲󰀰󰀶󰀷󰀸󰀰󰀹󰀵󰀯󰀰󰀲󰀯󰀲󰀰󰀰󰀹
 
󰀳
Listing brings in liquidity and ready marketability of securities on a continuous basis adding prestige and importance to listed companies.
 
Ability to raise further capital
An initial listing increases a company's ability to raise further capital through various routes like preferential issue, rights issue, Qualified Institutional Placements and ADRs/GDRs/FCCBs, and in the process attract a wide and varied body of institutional and professional investors.
 
Supervision and Control of Trading in Securities
The transactions in listed securities are required to be carried uniformly as per the rules and bye-laws of the exchange. All transactions in se¬curities are monitored by the regulatory mechanisms of the stock exchange, preventing unfair trade practices. It improves the confidence of small investors and protects them.
 
Fair Price for the Securities
 The prices are publicly arrived at on the basis of demand and supply; the stock exchange quotations are generally reflective of the real value of the security. Thus listing helps generate an independent valuation of the company by the market.
 
Timely Disclosure of Corporate Information
 The listing agreement signed with the exchange provides for timely dis¬closure of information relating to dividend, bonus and right issues, book clo¬sure, facilities for transfer, company related information etc by the company. Thus providing more transparency and building investor confidence.
 
Collateral Value of Securities
 Listed securities are acceptable to lenders as collateral for credit facili¬ties. A listed company can also borrow from financial institutions easily as it is rated favorably by lenders of capital; the company can also raise additional funds from the public through the new issue market with a greater degree of assurance.
 
Better Corporate Practice
 Since the violation of the listing agreement entails the de-listing/suspension of securities

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->