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Stock Market Book
1. How Sto Stock ck Marke Markett Funct Function ions? s?
(11-50)
In this Chapter you will know about:
1. Ba Basi siccs of in invvest stme ment nt 2. Ben Benefi efits ts of of in inve vesti sting ng in the Sto Stock ck Mar Marke kett 3. Co Comp mpan anyy and and Shar Shares es 4. Fi Fina nanc ncia iall cycl cyclee of bu busi sine ness ss 5. Ho How w do shar shares es come come int into o being being?? 6. Inst Instrume ruments nts oth other er than than sha shares res 7. Diffe Difference rence betw between een debt and equi equity ty 8. St Stoc ockk Ma Mark rket et 9. Pri Primary mary and sec second ondary ary mark market et 10. Vari arious ous mark market et play players ers 11. Qua Qualif lified ied Instit Instituti utiona onall Buyers Buyers 12. Pro Proces cesss of bri bringi nging ng shar shares es into into the mar marke kett (IPO) (IPO) 13. Pro Proces cesss of of app applic licati ation on for pub public lic iss issues ues 14.. Im 14 Impo porta rtanc ncee of De Dema matt Ac Acco coun untt 15. Differenc Differencee between between Fixed Fixed Price and and Book Book Built Built Issues 16.. Pr 16 Pric icee ban band d and and cut cut off off pr pric icee 17.. Co 17 Conc ncep eptt of pr preemi miu um 18. Intermed Intermediarie iariess involv involved ed in an an IPO and and their their role role 19. Sel Select ecting ing a good good new new issue issue 20.. Var 20 ario ious us ty type pess of of pr pros ospe pect ctus us 21. Wha Whatt to look look in in a prosp prospect ectus? us? 22. Cre Credit dit rat rating ing of an IPO and its imp importa ortance nce 23. Dep Deposi ository tory Pa Partic rticipa ipants nts 24.. Ba 24 Basi siss of of all llot otme ment nt of sh shaare ress 25.. De 25 Debe bent ntur ures es:: FC FCD D, NC NCD D and and PCD PCD 26. Cho Choosi osing ng a rig right ht debe debentu nture re 27. Strate Strategy gy for inv investin estingg in Prima Primary ry Market Market 29. How to make make selec selectiv tivee applica applications tions 30. Importa Important nt factors factors for for deciding deciding the credita creditabili bility ty of pro promot moters ers,, com compan panyy and and premi premium um 31. Ben Benefi efits ts to the in inve vesto stors rs of of good per performa formance nce of
s t n e t n o C
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s t n e t n o C
2. Know Know Ev Everyth erything ing Abo About ut A Stock Exchang Exchange e
(51-66)
In this Chapter you will know about:
1. Se Seco cond ndary ary Ma Mark rket et 2. Gi Gilt lt - edge edge se secu curi riti ties es 3. Stoc Stockk excha exchange nge member memberss and and their their role role 4. Pr Proc oces esss of tr trad adin ingg in in shar shares es 5. Co Cont ntra ract ct No Note te 6. Brok Brokers ers and and sub-bro sub-brokers kers and their role 7. Proce Process ss for prefe preferring rring arbitra arbitration tion and its its cost cost 8. Pa Payy for for and and gettin gettingg the sha shares res 9. Se Sett ttle leme ment nt cy cycl clee 10. Cl Clear earing ing mec mechan hanism ism
3. Ho How w Is The Mark Market et Regu Regulat lated? ed?
(67-78)
In this Chapter you will know about:
1. Statu Statuary ary bodies bodies for for monitori monitoring ng stock stock marke markets ts 2. Ob Obje ject ctiv ives es of of SE SEBI BI and and its its fun funct ctio ions ns 3. History of SEBI 4. Reg egul ulat atio ions ns of SE SEBI BI for for inve investo stors’ rs’ pr prot otec ecti tion on 5. Achi hiev eveeme ment ntss of SE SEB BI 6. SEB SEBII regulat regulations ions to curb curb mani manipula pulation tion 7. Insid Insider er tradin tradingg and and SEBI SEBI regul regulation ationss
4. Wh What at Is A Good Good Sh Shar are? e?
In this Chapter you will know about:
1. Im Impo port rtan ance ce of an anal alys ysis is 2. Flu Fluctu ctuati ation on in sto stock ck pric prices es 3. Supply of shares 4. Rul Rules es for inv investin estingg in shares shares after after analy analysis sis 5. Sou ourc rcees of in info form rmaati tio on 6. Und Unders erstan tandin dingg the annu annual al report report 7. Interp Interpretin retingg the bala balance nce sheet sheet and profit profit and
(79-100)
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Stock Market Book
11.. Loa 11 oan n fun fund ds 12. Sec Secure ured d and Unse Unsecur cured ed loans loans 13.. Appl 13 plic icaati tion on of of fu fun nds 14. Unde Understan rstanding ding gross block block and deprec depreciatio iation n 15. Pro Profit fit and los losss acco account unt 16. Man Manipu ipulat lation ion of pro profit fit and los losss acco account unt 17.. Di 17 Dire rect ctor or's 's re repo port rt
5. How To To Do Fundam Fundamenta entall Analysi Analysis? s?
(101-134)
In this Chapter you will know about:
1. Fun Fundam dament ental al ana analys lysis is 2. Gener General al steps steps to to fundame fundamental ntal eva evaluati luation on 3. Im Impo porta rtanc ncee of fu fund ndam amen enta tall anal analys ysis is 4. Me Meth thod od of fu fund ndam amen enta tall ana analy lysi siss 5. Diffe Difference rence betw between een fundame fundamental ntal analys analysis is and technical analysis 6. Sto Stock ck mark market et relat related ed ratio ratioss 7. Pr Prof ofit itab abil ilit ityy ratios ratios 8. Li Liqu quid idit ityy ra rati tios os 9. Ac Acti tivi vity ty ra rati tios os 10.. Im 10 Impo port rtaanc ncee of EPS 11.. HE 11 HEPS PS an and d CEP CEPSS 12.. Im 12 Impo port rtan ance ce of di divi vide dend nd 13.. P/ 13 P/E E ra rati tio o 14.. Bo 14 Book ok va valu luee 15. Choos Choosing ing rights rights and bonus bonus issue compa companies nies 16. Sic Sickk or take take ove overr compan companies ies 17.. FE 17 FERA RA co comp mpan anie iess
6. How To Apply Apply The The Princip Principles les Of Of Technical Analysis? In this Chapter you will know about:
1. Com Comput puting ing stoc stockk marke markett index index 2. Ra Rati tion onal alee of of te tech chni nica call anal analys ysis is
(135-153)
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s t n e t n o C
7. Rea eadi ding ng Pric Pricee Chart Chartss 8. ROC cha hart rtss
7. Wha Whatt Are Are Der Deriv ivati ative ves? s?
(155-210)
In this Chapter you will know about:
1. Hed Hedgin gingg throu through gh futu futures res.. 2. Und ndha ha Badl dlaa 3. Opt Option ionss - Basi Basicc Frame Frame wo work rk 4. Op Opti tion onss Wri Writi ting ng 5. Mar Margin ginss applic applicabl ablee on Optio Options ns 6. Op Opti tion onss Val Valua uati tion on 7. Fa Factors ctors determin determining ing optio options ns val value ue 8. Volati olatility lity and and significa significance nce for option options. s. 9. Bu Bull ll Sp Spre read adss 10. Othe Otherr Strategi Strategies es that that can be applie applied d to the the derivatives market. 11. Scr Scrips ips in Der Deriv ivati ative vess 12. Ac Accou counti nting ng for Deriv Derivati ative vess 13. Tax on on Deriv Derivati ative vess 14. Deri Derivat vativ ives es adjustmen adjustments ts for corporate corporate actio actions ns
8. How To Pick Pick A Good Good Mutual Mutual Fun Fund? d?
(211-217)
In this Chapter you will know about:
1. Mut utua uall fun fund d 2. App Apprai raisin singg the the per performa formance nce of a mutu mutual al fun fund d 3. Mu Mutu tual al fun funds ds in in Indi Indiaa 4. Reg egul ulat atio ion n of mu mutu tual al fun funds ds 5. Th Thee pit pitfa fall llss of mut utua uall fund fundss 6. Diffe Differenc rencee betwe between en an an open open ended ended and close ended scheme 7. Diffe Differenc rencee betwe between en mutual mutual funds and portfolio management schemes 8. Net Ass Asset et Valu aluee of of a Mutu Mutual al Fun Fund d Sch Scheme eme 9. Fix Fixed ed monthly monthly incom incomee by inv investin estingg in
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Stock Market Book
11. Diffe Difference rence in the the risks risks and return offere offered d by various va rious types of mutu mutual al funds funds 12.. Bo 12 Bond nd or de debt bt fu fund nd 13. Sec Sector toral al funds funds or specia specialty lty funds funds 14. Crit Criterion erionss an inv investor estor shoul should d know know before investing in a Mutual fund 15. Fund Fundss providin providingg higher higher returns in long long term term
9. How To Manage Manage Your Your Portfol Portfolio? io?
(219-242)
In this Chapter you will know about:
1. Po Portfo rtfolio lio man manage agemen mentt 2. Fac Factors tors influe influencing ncing portfol portfolio io object objectiv ivee 3. Crite Criteria ria to to evalua evaluate te invest investment ment optio option n 4. Re Retu turn rn cons consid ider erat atio ion n of a portf portfol olio io 5. Inv Investme estment nt strategy strategy for liqu liquidity idity retire retirement ment 6. Risk con consid sidera eratio tion n of an inv invest estmen mentt decis decision ion 7. Sa Safe fety ty,, Re Retu turn rn and and Liqui Liquidi dity ty of in inve vestm stmen ents ts
10.
Investor's Enemies Greed And Panic
(243-254)
In this Chapter you will know about:
1. Wh What at is gr gree eed? d? 2. Ho How w to to cont control rol emo emotio tions ns like greed and fear?
11. Int Internet ernet Trad Trading ing In Ind India ia In this Chapter you will know about:
1. In Inte terne rnett tr trad adin ing g 2. Ad Adva vant ntag ages es of In Inte terne rnett tr trad adin ing g 3. Di Disa sadv dvan anta tages ges of In Inte terne rnett trad tradin ing g 4. Maj Major or player playerss offerin offeringg Internet Internet trading services 5. Oth Other er service servicess offered offered by by Interne Internett trading service providers
(255-263)
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CHAPTER
ONE
How Ho w Stock
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Stock Market Book
1
Chapter
G
oing through a book on the stock market is quite an experience experience.. You skip few paragraphs paragraphs,, flip through pages, pages, get foxed foxed by the mathematmathematical expressions and finance jargons and finally conclude, "This book book is too academ academic". ic". And your your queries queries remain unanswered!
The question that hovers in your mind is, can a layman without any finance background understand the stock market? Certainly.. You just need Certainly need to understan understand d the basics basics of investment.
What are the basics of Investment? The money you earn is partly spent and the rest saved, for meeting meeting the future expens expenses. es. If you keep your savin savings gs idle its nominal value remains the same but real value decreases decrea ses by prevailing prevailing inflation. inflation. This can be defined defined by the following formula: Real rate of return
= Nomina inall rate of return return - Inflation Inflation
Instead Instea d of ke keepi eping ng the the savin savings gs idle, idle, yo you u park park it some some- where to get a return on this capital in the future. future. This is called an investment. investment. There are various various avenues avenues for investinvestment. You may may invest invest in the bank bank deposits, deposits, postal deposits, deposits, real re al esta estate te,, je jew wel elry ry,, pa pain inti ting ngss, li life fe insu insura ranc ncee, ta taxx savi saving ngss schemes likes PPF/NSC or stock market related instruments men ts called called secur securiti ities es like like shares shares,, deb debent enture ures, s, bon bonds ds,, etc etc.. However, Howev er, the return from each investment investment option option depends on the associate associated d risk. The riskier riskier the investm investment, ent, the highhigh-
Bank of India The first bank to open a branch outside India in London in 1946
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In the long run it is empirically found that investment in equities gives maximum return. PRESENT VALUE OF RS 1 LAKH (INVESTED IN 1992) Mode Mo de of In Inve vest stme ment nt Val alue ue of Rs Rs11 Lak Lakh h Re Rema mark rkss Bank Fix ixe ed Deposit Rs. 3,7 ,79 9,5 ,53 35
“A
SBI-M I-MF F Mag agn num
Rs. 4, 4,89 89,3 ,30 00
Tax Gain (1993) Gold
Rs. 2,61,000
stock broker is one
Property
Rs. 5,00,000 to Rs.7 .7,1 ,14 4,0 ,00 00
Sensex
Rs.10,30,346
who invests other people’s money until its all gone” Woody Allen, American Film Maker
Calc lcu ula late ted d on on the the ba basis of of prevailing average different bank rates in 1992-97 (11 per cent), in 1997-2002 (11.5 per cent) and in 200208 (5.5 per cent) Mutu utual al Fu Fund nd Sche Schem me started in 1993 In January 1992, the price of gold was Rs.4,200 per 10 gram and in January 2008 2008 the price of gold is Rs.11,000 per 10 gram In 1992, the rate of real esta tate te in Na Narim rima an Po Poin intt Mumbai was Rs.7,000 per sqft and in January 2008 the rate of same property was Rs.35,000 to 50,000 per sqft In January 15, 1992 Sensex was at 2020 and on January 07, 2008 Sensex was at 20813
(Values are calculated on the basis of prevalent average rate in case of property and gold while value for the mutual funds is calculated on the basis of returns/dividend given by the bank)
What is a share? A Share or stock is a document issued by a company, which wh ich ent entitle itless its hol holder der to be be one one of the ow owner nerss of the company.. A share is directly issued by company by a company through
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Stock Market Book
pany means a company formed and registered under the Indian Companies Act 1956. As company company is a voluntary voluntary association of persons its capital is divisible into parts which are known as shares with limited liabilities. liabilities. A company exists only in contemplation contemplation of law and and it has no phys physical ical existen existence. ce.
What is a company's legal identity? A company is considered as a juristic person with a perpetual successio succession n and a common common seal. seal. Its life does not not depen dep end d upon upon the the life life of of it itss membe members rs,, wh who o can can chan change ge from fro m time to to time. time. On registr registratio ation, n, a company company acqui acquires res a personality distinct from its members. A company company can sue and be sued sued in its own name. name. It can institute and defend suits and other legal proceedings in its own name. A compan companyy has has limited limited liabili liability ty.. The privil privilege ege of of limited liabilityy for business liabilit business debts debts is one one of the principal principal advan advan-tagess of doi tage doing ng busin business ess in in the the corpor corporate ate form. In a comcompanyy limited pan limited by by shares shares,, lia liabili bility ty of the memb members ers is limite limited d to the the unpai unpaid d value value of of the sha shares res,, whe wherea reass in a comp company any limited by guarante guarantee, e, liabilit liabilityy of member memberss is limited limited to such amount as the member may undertake to contribute to the assets asse ts of com compan panyy in the the event event of of it being being woun wound d up. up.
Can you tell me about the financial cycle of the business? Earlier when the companies did not have the access to the primary market they had to borrow funds to raise the
1
Chapter
Sir Chintaman D. Des Deshm hmukh ukh Was the first Indian to become the RBI governor
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1475 - 1564
to be raised in the personal personal capacity capacity.. In general, at this stage the business entity is known as sole proprietorship or a partnership as the business is closely held and by a single person perso n or a small group of of perso persons ns.. When the business expands, expands, the need for for finance increasincreases. When the business is reasonably established established the Venture Venture Capitalists start to take interest in the entity and they look for the inv investme estment nt oppo opportunit rtunities ies.. In the the return of mone money y invested the venture capitalists usually are given shares or warrants warrants.. The company company could could remain remain a Private Private Limited Limited Company at this stage as it is still closely held and owned by a few people. people. There should be at least two two shareholders shareholders in a private private limited company. company. The venture capitalists capitalists are those people who look for higher profit and are prepared to take higher risk for it. Now if the business expands further the need for finance finance rises to the level where the company has to go to public in order to realise their expansion or diversification diversification plans. plans. At this juncture they take take the IPO route.
Italian Artist
How do shares come into being?
“T
rifles
make
perfection and perfection is no trifle” Michaelangelo,
Any business is owned either by a single promoter or
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Stock Market Book
panies are traded. All public limited companies are started privately by a prom pr omot oter er or or a grou group p of of th thee prom promot oter erss. Bu But, t, th thee prom promot ot-ers' capital and the borrowings from banks and financial institutions are not sufficient for financing the project or setting sett ing up a busin business ess.. So So,, thes thesee compani companies es invite invite the the public public also,, to contribute also contribute towards towards the equity and issue shares to these individual investors through initial public offering (IPO).. A company (IPO) company is run by a Board Board of Direc Directors tors - who are are shareholders' nominees - but are generally controlled by the promoters.
What is a General Body Meeting (GBM)? It is is a meet meeting ing of the share sharehold holders ers,, and bein beingg the the most most powerful pow erful body body of any company company,, the GBM GBM takes takes all the decidecisionss regarding sion regarding the the working working of the compan companyy. Held annua annuallly,, this meeting is ly is also called the the Annual General Meeting Meeting (AGM), (A GM), and discusses discusses among among other issues, issues, the performance performance of the company company in the previous previous accounting period and and even finalizes the the accounts. accounts. The AGM AGM also appoints Auditors and Direc Directors tors for the the compan companyy, appr approv oves es of the divid dividend end declared by the company (it also has a right to lower the div-
1
Chapter
SBI The largest Commercial bank in India
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“A
verage
investors who try to do a lot of trading will only make their brokers rich”
some kind of hyb hybrid rid instrumen instruments ts.. These securi securities ties may be issued in the domestic market or in the international market. ke t. In case case of int interna ernatio tiona nall market market the the fund fundss are rais raised ed through ADR/GDR/FCCB/QIP route. Apart from raising fund through IPO/FPO the companiess can nie can raise raise fund fund by by issue issue of of de debt bt in the form of of Debentures.. Companies also can offer Warrants Debentures Warrants as a part of their new offing offing.. Warrant is an instrument instrument which can can be converted conve rted into equity shares at the choice of investo investorr at a certain predetermined price and quantity at a specified time in the future. future. There is no obligation involved involved on the buyer in cas casee of wa warran rrant. t. The companies also can raise funds in the foreign markets.. Fo kets Foreign reign currency loans loans can be availed from the foreign banks banks or foreig foreign n financial financial institutio institutions. ns. The other other means of of raising funds in the internation international al market market is the the approachin appro achingg public and NRIs abroad. abroad. This helps compacompanies to diversify their investor base and build its profile in the internati international onal marke market. t. This also also offers offers flexibility flexibility in terms of shift shifting ing betw between een fixe fixed/flo d/floatin atingg rates rates and switching between currencies. Indian companies are permitted to raise foreign currency
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Stock Market Book
be subjected to the laws prevailing in that market.
What is the difference between debt and equity? Following are the differences between debt and equity: Debt
Equity
Debt inst Debt instrum ruments ents do not give own ownership ership rirights ghts to holders Interest is payable Interest is legal obligation to pay Debt ho hold lde ers get pre prefe fere ren nce in case of dissolution of company Interest Inter est not paid is carri carried ed forward
Equity Equit y inst instrume ruments nts entit entitle le the holders to own part of the business Dividend is payable Dividend Dividen d is not legally necessary Equity hold lde ers are paid only after all other obligations are met Dividend cannot be carri carried ed forward
Tell me more about the stock market? This is an organized set-up with a regulatory body and the members who trade in shares are registered with the stock market market and regulatory body SEBI. Stock markets markets exist in different cities all over the world with each market having a differ different ent set of "list "listed" ed" shar shares es.. Thus Thus,, the shar shares es listed listed in the Bombay Stock Exchange (BSE) will be different from
1
Chapter
Sir Benegal Rama Rau Was the longest serving RBI governor, 1949 - 1957
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“S
uccess in business does not depend upon genius. Any young man of ordinary intelligence who is normally sound and not afraid to work should succeed inspite of obstacles and handicaps if he plays the game
today better better as Bombay Stock Exchange, Exchange, which remains the premier prem ier stock stock exchange exchange since since its inception inception.. Durin Duringg this period several other exchanges were launched and some of which whic h were closed closed also. also. Prese Presently ntly,, ther theree are 19 recognize recognized d stockk excha stoc exchanges nges out out of whic which h four four are nati national onal leve levell exchanges and the remaining are regional exchanges. National Nati onal Stock Stock Excha Exchange, nge, esta establish blished ed in 1992, 1992, was the the last exchange. Although the regional level exchanges are in existence the volume volume of of trad trading ing in these these exc exchange hangess is negligibl negligible. e. National Stock Exchange and Bombay Stock Exchange are the lead leaders ers of Ind Indian ian Secu Securit rities ies Mark Market et in terms terms of lis listin ting, g, trading and volumes. The last 15 years years of the Indian Indian securiti securities es market market can be considered as the most important important part of the history history where the market gone through the post liberalization era of Indian Indi an economy economy and witnessed witnessed the formation formation of Secur Securities ities and Excha Exchange nge Board Board of India (SEBI) (SEBI) which which brought brought substantial transparency in share market practices and thus managed mana ged to bring bring in trust of not only only domestic domestic inves investors tors but also the international ones.
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Stock Market Book
Regulators: RB RBI, I, SE SEBI BI,, Mi Mini nist stry ry of Co Comp mpan anyy Affa Affair irss Appellate Tribunals: SA SAT T, Nat Nation ional al Compan Company’ y’ss Law Appellate Tribunal Apart from these, these, each companies companies appoints appoints legal counsel and auditors auditors who are not referred as intermediaries. intermediaries. Their work includes includes conducting conducting due diligence, diligence, drafting legal parts of the pros prospect pectus, us, var various ious agreem agreements ents and pro providin vidingg legal legal opinion and assistance in closing the issue.
Elaborate on various types of investors. The investors investors can be be categorized as follows: follows: Individual invves in esto tors rs,, Par artn tner ersh ship ip/H /HUF UF,, So Soci ciet etie iess and and Trus Trusts ts,, Comp Co mpan anie ies, s, Mu Mutu tual al Fund Fundss, Fi Fina nanc ncia iall Insti Institu tuti tion onss and Foreign Institutional Investors Individual investors: Individuals form a major part of
1
Chapter
90 Million The number of customers served by SBI
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“T
o the
investment manager, soft dollars are someone
received receive d in the the form of capi capital tal gains, gains, inter interests ests or divi dividend dendss on securities. securities. (Further details in Chapter 08 Mutual Funds) Funds) Financial Institutions: They are the major investors in terms of vol volumes umes and values values in the securit securities ies market market both in the primary primary and secondary market. market. These include banks, banks, insurance insur ance compani companies es,, pens pension ion funds and venture venture capital capital companies. Foreign Institutional Investors (FIIs) : Th This is is is an en enti tity ty formed or incorporated outside India with the purpose to invest in India. These entities are required to to be registered registered with SEBI as FIIs. As per SEBI regulations an FII cannot invest more than 10 per per cent cent of tot total al issue issued d capita capitall of an India Indian n compan companyy. These prescribed limits are subjected to the overall limit of 24-49 per cent or the sectoral limit as prescribed by the
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Stock Market Book
1
Chapter
The
aallotm llotment ent of of share sharess to QIBs QIBs shall be be on propor propor-tionate basis. Out of the existin existingg 50 per per cent porti portion on avail available able for QIBs,, 5 per cent thereof QIBs thereof shal shalll be specificall specificallyy availabl availablee for Mutual Mut ual Fun Funds ds reg regist istere ered d with with SEB SEBI. I. Ho Howe weve ver, r, the these se Mutual Funds participating in QIB category will also be eligible eligi ble for allotmen allotmentt in the remaining remaining portion, portion, i.e i.e.,., 45 per cent,, av cent availab ailable le to QIBs. QIBs.
Primary Market New capitals are raised by the companies in the form of IPO from the primary market.
How are shares floated? The way to invite the share capital from the public is
Sir Osborne A. Smith Was the first governor of the Reserve Bank of India
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IPO Process (Issuer’s (Issuer ’s perspective) Function Decision to issue shares Appointment of intermediaries Draft Red Herring Prospectus
“N
obody
works as hard for his money
Agreements to finalise Opening of bid
Offer closure
Allotment of Securities
Refund of money
Carried out by Issuer Issuer Issuer/Investment Banker/ Legal Advisor Issuer with Intermediaries Issuer/Investment Banker/ Banker Issuer/Investment Banker/Banker Issuer/Investment Banker/Registrar/DP Issuer/Investment Banker/Banker
Give me a brief account of application for IPO process in terms of investor's perspective.
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Stock Market Book
application form. These forms are made ava application available ilable with Syndicate Syndica te member members, s, broke brokers, rs, sub-bro sub-brokers kers,, Inv Investment estment advisors and generally also available in stalls outside the stock exchanges, Banks and with vendors in various other areas. areas. The forms can can also be be obtained obtained from from the websit websites es of the compan com panyy or registra registrar's r's of the issue issue.. Oncee you Onc you get get the the form, form, you ha have ve to fill fill it, remi remitt the the amount after after calculating calculating the number number of shares applied applied for for in the bank that is designated in the form as collecting centre for that IPO. IPO. Inv Investors estors have have to provide provide the details details of their Demat Demat account account and bank account account in the the form. In a book built issue, issue, the investors investors have have choice choice to bid bid at the price as per their decisions. You Y ou can also apply for for physical physical share if if issue size is less less than tha n Rs 10 crore crore.. If issu issuee size is is more more than than that that you you have have
1
Chapter
1969 Year in which the Banks were nationalized in India
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“T
here
are three classes of people who
between the floor (minimum) and the cap (maximum) of the price price band shall shall not be more than than 20 per per cent. The price band can be revised and such a revision shall be informed to the investors by informing the stock exch ex change anges, s, by issuin issuingg press press etc. etc. In case case the price price band band is revised, the bidding bidding period need to be extended extended for a further period period of three days days,, subject to the the total total bidding bidding periperiod not exceeding thirteen days.
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Stock Market Book
in consultation consultation with the merch merchant ant banker banker.. In the fixed fixed price issue, issue, the price price is decided decided by by them keeping keeping in the mind various factors pertaining to the company company.. However However,, in the the case case of boo bookk built built issue, issue, the price price is is discov discovere ered d by book -building mechanism and final price is arrived accordingly.
What is the concept of premium? Gen
lly
t of the sha shares res h e a f
lue (i.e (i.e the
1
Chapter
1945 The year in
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that it's easy to command a high premium.
Who are the intermediaries involved in IPO? The main intermediar intermediaries ies involved involved in the process process of IPO are Merchant/I Merchant/Inve nvestment stment Bankers Bankers,, Reg Registrar istrar to an Issue, Bankers Bank ers to an Issue, Issue, Syndica Syndicate te Members Members.. Credit Rating of IPO has been made mandatory and therefore Credit Rating Agenci Agencies es are are also also part of the who whole le proc process ess.. Thes Thesee four four intermediaries and the depositories play important role in
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Stock Market Book
and for the the transfer transfer of securitie securitiess in the Demat Demat form for the allotted shares. Bankers to an Issue: The basic basic job job of the bank bankers ers to an an issue is to collect application forms and money and deliver it to the Registrar Registrar as per agreed schedule schedule.. Apart from this theyy also the also ensur ensuree the the refun refund d of mon money ey in in case case of full fullyy or or partly rejected rejected applicati applications ons.. They also assist assist in post issue issue reconciliation. Credit Rating Agency: The company has to appoint a
1
Chapter
Westeren India Vegetable Products The
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What is the prospectus? How it comes into being? Prospectus is a document inviting deposits from the public or inviting offers from the public for subscription s ubscription or purchas purc hasee of any share sharess in or debent debentures ures of, of, a body corpo corpo-rate. Prospec Prospectus tus is a statuary statuary document document and inv investors estors can sue the company company for furnishing furnishing wrong information. information. Here Here,, we will discuss various terms related with prospectus in t of IPO Thes Thesee terms are defi defined ned in d il in SEBI SEBI
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Stock Market Book
the company for its Rights Issue and which is filed with the Stock Exchan Exchanges. ges. The required disclosures disclosures are made
1
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otherr grou othe groups ps of of in inve vest stor orss. Th Thee grad gradin ingg is ge gene nera rall lly y assigned on a 1 to 5 scale where higher score indicates
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Stock Market Book
not be differentiated and they are fully fungible.
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certificates to DP certificates DP.. The DP on receipt receipt of the same same forward forward details det ails of of the share sharess to the Deposi Depository tory and and inform inform the
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Stock Market Book
shares reserved reserved for each each of of the categories categories in the the offer docdocument. umen t. Wit Within hin eac each h of the these se cat categori egories es the bid bidss are are the then n
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Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.
Trusted by over 1 million members
Try Scribd FREE for 30 days to access over 125 million titles without ads or interruptions! Start Free Trial Cancel Anytime.