NISM Series IX (Merchant Banking) case studies
NISM Series IX (Merchant Banking) · Put your knowledge to work in context.
NISM Series-IX, the Merchant Banking Certification Examination, is one of the certification examinations offered by the National Institute of Securities Markets (NISM), a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. NISM carries out capacity building activities aimed at enhancing quality standards in the securities markets, and its certification examinations sit within that mandate. The NISM Series IX (Merchant Banking) case studies are 5 cases and about 4,254 words.
1The Rs 120 Crore 'Private Placement' to 295 Investors
Sunrise Renewables Private Limited, a solar EPC contractor with turnover of Rs 85 crore, decided in March to avoid a full public issue and instead raised Rs 120 crore through what its board minuted as a 'private placement'. The money came from 295 investors who are neither employees nor qualified institutional buyers, from 25 employees subscribing under the company's ESOS, and from four QIBs - an AIF, an insurance company, a bank and an FPI.
861 words, about 4 min2The Lead Manager That Only Lends Its Registration
Aarav Capital Advisors LLP holds no SEBI registration. It has been engaged by a Bengaluru consumer brand for a Rs 120 crore main-board IPO to write the DRHP, run investor roadshows, negotiate with anchor investors and decide the price band.
826 words, about 4 min3Can Vardhman Capital Advisors Enter Merchant Banking?
Vardhman Capital Advisors Private Limited, Pune, has spent eight years doing valuation reports, private-placement documentation and loan syndication. It has never held a SEBI certificate.
897 words, about 4 min4Kestrel's IPO Closes at 88.4% and the Anchor Wants Out
Kestrel Engineering Ltd's Rs 300 crore book-built IPO closed on a Thursday. The offer was 1,20,00,000 equity shares at a price band of Rs 240 to Rs 260; the QIB portion was 50%, non-institutional 15% and retail 35%.
821 words, about 4 min5The Auditor's Resignation Nobody Wants to Disclose
Northbridge Capital is lead manager to a Rs 500 crore IPO by a consumer products company. Two weeks before the RHP is to be filed, four facts surface.
849 words, about 4 min