As per Section 23 of Indian Companies Act 2013 method to issue securities can be either public offer or private placement. Provision in the Indian Companies Act 2013 regarding Public offer and private placement etc is as under.
(1) A public company may issue securities--
(a) to public through prospectus (herein referred to as “public
offer”) by complying with the provisions of this Part; or
(b) through private placement by complying with the provisions of
Part II of this Chapter; or
(c) through a rights issue or a bonus issue in accordance with the
provisions of this Act and in case of a listed company or a company
which intends to get its securities listed also with the provisions
of the Securities and Exchange Board of India Act, 1992 (15 of 1992)
and the rules and regulations made thereunder.
(2) A private company may issue securities--
(a) by way of rights issue or bonus issue in accordance with the
provisions of this Act; or
(b) through private placement by complying with the provisions of
Part II of this Chapter.
1[(3) Such class of public companies may issue such class of
securities for the purposes of listing on permitted stock exchanges
in permissible foreign jurisdictions or such other jurisdictions, as
may be prescribed.
(4) The Central Government may, by notification, exempt any class or
classes of public companies referred to in sub-section (3) from any
of the provisions of this Chapter, Chapter IV, section 89, section
90 or section 127 and a copy of every such notification shall, as
soon as may be after it is issued, be laid before both Houses of
Parliament.]
Explanation.--For the purposes of this Chapter, “public offer”
includes initial public offer or further public offer of securities
to the public by a company, or an offer for sale of securities to
the public by an existing shareholder, through issue of a
prospectus.
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1. Ins. by Act 29 of 2020, s. 5, (w.e.f. 30-10-2023).
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