NISM Series IX (Merchant Banking) study plan

Map the full IPO lifecycle from appointment of a merchant banker to listing and post-listing compliance, writing a one-page flow with every regulatory touchpoint named

Distinguish book-built, fixed-price, SME, rights, preferential allotment, QIP and bonus issues by eligibility, pricing method and disclosure load

Explain the roles of BRLM, syndicate member, registrar, underwriter and sponsor bank in a book-built issue without notes

List the key SEBI ICDR disclosure categories (risk factors, objects of the issue, capital structure, management discussion) and why each exists

Compute issue price, lot size, minimum application value and oversubscription multiples from given numerical data

Trace the ICDR timeline for a public issue and identify where merchant banker due diligence obligations bite

Summarise SEBI (Merchant Bankers) Regulations registration conditions, net worth, capital adequacy and general obligations in your own words

Differentiate the merchant banker's obligations to the issuer from obligations to SEBI and to investors

Explain the registration, renewal, suspension and cancellation process for merchant bankers, including fit-and-proper criteria

Describe code of conduct duties, record-keeping, reporting and the consequences of non-compliance

Outline the powers of SEBI over intermediaries, inspection, enquiry and penalty mechanics

Compare obligations of a lead manager with those of a co-manager or underwriter under the regulations

Apply the ICDR rules to a hypothetical issue and flag every point where a filing would be rejected

Explain due diligence, underwriter agreements and the merchant banker's role in the listing application

Reconcile SEBI regulations with the Companies Act provisions on prospectus, allotment and refunds

Draft short answers to five scenario questions on issue management under timed conditions

Map the Indian capital market structure: primary and secondary segments, equity, debt, derivatives and their participants

Explain the roles of SEBI, RBI, stock exchanges, depositories, clearing corporations and intermediaries in the market ecosystem

Describe the instruments traded, settlement cycle, and the difference between dematerialised and physical holdings

Trace the historical evolution of Indian securities regulation from the pre-SEBI era to current framework

Define merchant banking, list its core and ancillary services and distinguish it from investment banking and broking

Explain the merchant banker's role in mergers, acquisitions, takeovers, delisting, buyback and open offers

Describe advisory services including project appraisal, capital structuring, loan syndication and working capital assessment

Outline the ethical standards expected: conflict of interest, confidentiality, fair dealing and prohibition of misleading statements

Analyse open offer triggers, pricing and procedural steps under the takeover code from a merchant banker's advisory perspective

Explain delisting and buyback mechanics, including the role of the merchant banker and investor protections

Apply ethical reasoning to conflicts of interest, insider information and due diligence shortcuts in three case scenarios

Summarise the code of conduct provisions that apply across all merchant banking activities

Revise every domain using condensed notes and the error logs from earlier weeks

Complete two full-length mock exams under timed conditions and score each

Re-study only the weakest three topics identified from mock results

Recite key regulatory thresholds, timelines and definitions from memory without referring to notes