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Initial Public Offer (IPO) is a very popular process through which an unlisted Company or start-up or early-stage company can be listed on the NSE for trade /sale of its securities to the public at large in the primary market. Generally, IPO was introduced for expansion of core business activities of the company or setting up new business activities or project and the consequence of IPO was dilution of promoter shares.
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Listing of securities can be done in either Capital Market or Wholesale Debt Market. There is a NSE Listing procedure to be followed but before that let’s look at the eligibility requirement.
Basic Eligibility Requirement
Submission of Memorandum and AOA
It requires that the Articles of Association of the Issuer wanting to list its securities on NSE should be submitted. If any of the provisions in the AOA are not at par with the corporate practice then it has to be removed by making amendments in the AOA.
Approval of Draft Prospectus
The Issuer shall file the draft prospectus and mandatory application forms with National Stock Exchange. The draft prospectus is prepared in accordance with the laws mentioned etc. National Stock Exchange will peruse the draft prospectus only from the point of view of checking and then if any approval is given by National Stock Exchange in respect of the draft prospectus it should not be considered as approval under any laws, rules, any other guidelines, etc. The Company should also submit SEBI, the letter indicating observations on the draft prospectus or letter of offer by SEBI.
Submission of Application
Issuers who desire to list on NSE with their existing or new securities shall make an application to NSE for admission of their securities in the prescribed forms and fees, if any.
Benefits of National Stock Exchange Listing are as follows:
National Stock Exchange is the leading stock exchange of India. It was the first exchange in the country that provided a fully automated screen based trading system. For more information on NSE, BSE or Listing Requirements, read our blogs.
Read our article: Shares Listing Procedure in India
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