Welcome to Chapter 3 of the DeepStratAI Audio Course for NISM Series XII.

In this episode, we explore the Primary Market—the factory where financial products are created and sold for the very first time.

Key Concepts Covered in this Episode:

What is the Primary Market? It is where issuers (Companies/Govt) raise fresh capital from investors.

Types of Issues:

Public Issue (IPO): The first time a company sells shares to the public.

Rights Issue: Selling shares to existing shareholders.

Private Placement: Selling shares to a select group of investors (not the public).

Preferential Issue: Giving shares to specific people (like promoters).

Key Intermediaries:

Merchant Bankers: The architects who manage the IPO.

Underwriters: The safety net who promise to buy unsold shares.

Registrars: They keep the list of who owns what.

The IPO Process: From filing the "Red Herring Prospectus" (RHP) to the "Price Band" and finally "Listing."ASBA (Application Supported by Blocked Amount): The mandatory payment method where money stays in your bank account until shares are allotted.Exam Note: This chapter has High Weightage (approx. 20%). Questions often focus on the Types of Issues (e.g., "What is the difference between a Rights Issue and a Bonus Issue?") and the role of the Merchant Banker.

Next Episode: The shares are issued. Now, how do we trade them? 🎧 Next: [A04] Chapter 4: Secondary Markets (Trading)About the Series: Conversational, AI-powered audio lessons to help you crack the NISM Series XII Certification without the stress.

Resources:

Official NISM Workbook: https://cert.nism.ac.in/If you find this helpful, for accessing my exam notes, you can reach out to nemo@deepstratai.com (free of cost).Subscribe to DeepStratAI and hit the bell icon. Let's turn that "Pass" into a "Distinction."#NISMSeriesXII #Chapter3 #IPO #PrimaryMarket #StockMarketIndia #InvestmentBanking #DeepStratAI #AudioLearning