SEGMENTS OF CAPITAL MARKET
Primary Market
A market where new securities are bought and sold for the first time is called the New Issues market or the IPO market. In other words, the first public offering of equity shares or convertible securities by a company which is followed by the listing of a company’s shares on a stock exchange is known as an initial public offering (IPO). The Primary market also includes issue of further capital by companies whose shares are already listed on the stock exchange.
There are different types of intermediaries operating in this segment of capital market. They play a crucial role in the development of capital market by providing a variety of services. These intermediaries viz., merchant bankers, brokers, bankers to issues, debenture trustees, portfolio managers, registrars to issues and share transfer agents, etc., are regulated by SEBI.
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