Advanced Securities Law

P R O G R A M M E O U T L I N E

Unit 1: Public Issues: Initial Public Offering – I

• Learn about public issues, specifically, initial public offers (“IPOs”).

• Identify the broad eligibility conditions and procedure for an IPO.

• Study the relevant provisions of the Companies Act, 1956 (“Companies Act”) and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (“ICDR Regulations”) that apply during this process.

Unit 2: Public Issues: Initial Public Offering – II

• Examine the process followed by an issuing company in the run-up to an IPO.

• Learn more about the requirements laid down in the relevant provisions of the Companies Act and ICDR Regulations.

Unit 3: Public Issues: Other Key Aspects

• Study the key aspects that an issuing company and its merchant bankers have to address in an IPO.

• Understand the requirements a company has to fufill once it is listed on the stock exchange.

• Examine the listing agreement entered into by issuing companies with the relevant stock exchange.

Unit 4: Rights Issues

• Study the procedure that a company undertaking a rights issue to the public needs to follow.

• Identify the conditions it needs to follow to issue a letter of offer.

Unit 5: Preferential Issues

• Understand the concept of preferential allotments or private placements.

• Examine the provisions in the ICDR Regulations relating to such allotments.

Unit 6: Trading, Clearing, and Settlement of Listed Shares

• Understand how securities listed on stock exchanges are actually traded, cleared, and settled.

Unit 7: Securities Involving Foreign Sources

• Study some of the instruments that: (a) foreign companies looking to access Indian markets can issue; and (b) Indian companies looking to access foreign capital can issue. These include Indian depository receipts, American depositary receipts, global depositary receipts, foreign currency convertible bonds, and foreign currency exchangeable bonds.

Unit 8: Understanding Insider Trading Regulations

• Examine the law relating to insider trading in the shares of listed companies in India incorporated in the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992.

Unit 9: Understanding Takeover Regulations

• Understand the basic and important concepts of the takeover regime.

• Learn about disclosure requirements.

• Learn about open offer triggers and procedures.

Unit 10: Understanding Relevant Provisions of the Companies Act, 2013

• Analyse the important provisions of the Companies Act, 2013 that affect capital markets transactions in India.