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NISM Series-IX: Merchant Banking

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NISM Series-IX: Merchant Banking online tutorial

The NISM Series-IX: Merchant Banking Certification exam offered by NISM aims to offer a better understanding of numerous regulations in the Merchant Banking Domain. It also aspires to have a fundamental grasp of many parts of capital market operations, as well as to run the numerous procedures involved in registered Merchant Bankers. This test will also cover subjects such as comprehending India’s financial structure and the many laws and regulations that govern the Indian securities market.

Exam Details

  • The module name is NISM Series-IX: Merchant Banking Certification exam.
  • Secondly, the number of questions asked in the exam is 100 of 1 mark each and should be completed in the time duration of 2 hours.
  • The maximum marks to obtain in this exam is 100 and the passing score to qualify the exam is 60%. Moreover, there is 25% negative marking for each incorrect answer.
  • Next, the exam fee is Rs. 1500+ and the certification is valid for next 3 years from the date of qualifying the exam.
  • The CPE programme allows candidates to re-validate their certification. In this tutorial, the CPE programme is thoroughly discussed.

Target Audience

The exam especially seeks to create a benchmark foe employees working with SEBI registered Merchant Bankers, who:

  • Perform SEBI regulated activities such as initial public offer, further public offer, Open Offer, Buy-back, Delisting.
  • deal with the issuers in connection with activities such as initial public offer, further public offer, Open Offer, Buy-back, Delisting.
  • deal with intermediaries associated with activities such as initial public offer, further public offer, Open Offer, Buy-back, Delisting.
  • act as designated Compliance Officer.
  • submit Due Diligence Certificates to SEBI.

Learning Objectives

On successful completion of the examination, the candidate should:

  • Know the basics of Merchant Banking in India.
  • Understand the functioning of Merchant Bankers related to Issue Management Process, Substantial Acquisition of Equity Shares, Buyback of Equity Shares, and Delisting of Shares.
  • Moreover, Know the regulatory environment in which Merchant Bankers operate in India.

Schedule your exam:

Follow some tips to schedule your exam:

  • Firstly, You should register yourself with NISM Certifications Registration Portal.
  • Secondly, if you are a new candidate, please click on “Register” for fresh one-time registration. If you are already registered with NISM Portal, please use your Email address and Password to log in.
  • Follow their steps after logging in:
    • Check Seat Availability
    • Schedule a Test / Enroll Online
    • Make Payment using Credit Card / Debit Card/ Net Banking
    • Take Practice Exams
    • Download Admit Card / Study Material (after enrollment)
    • Access Exam Results and Verify Skills
    • Check Special Accommodation policy form
  • Thirdly, candidates can register themselves online by filling the Candidate Registration Form.
  • Lastly, NISM also provides its pdf for Registration Guidelines for filling the online registration form.
Refund and Rescheduling Policy

Fees once paid shall not be refunded except under following circumstances:

  • The candidate’s account /card was debited but the enrollment was not successful
  • In case of multiple deduction of fees from candidate’s account
  • In case NISM or test administrator is not able to offer examination/ CPE program / e CPE program for any technical reason and rescheduling is not suitable to a candidate

A candidate may be offered to reschedule of an examination subject to availability of slots only in certain cases such as:

  • Significant / prolonged disruption of internet / power at the test center
  • Non-availability of NISM’s examination application due to scheduled or unscheduled maintenance
  • Inability of NISM or test administrator to conduct examination/s because of circumstances like natural disasters, law and order situation etc.

For More: Check NISM Series-IX: Merchant Banking FAQs

NISM Series-IX: Merchant Banking FAQs

Course Outline

  • Introduction to the Capital Market
    • Know about the Indian Capital Market
  • Introduction to the Merchant Banking
    • Concept and Evolution of Merchant Banking
    • Merchant Banking in India
    • Know the Regulations governing Merchant Banking Activity in India
  • Registration, Code of Conduct & General Obligations of Merchant Bankers in India
    • Merchant Banking Activity Explain very briefly the various activities undertaken by the merchant bankers in India.
    • Registration of Merchant Bankers
    • Code of Conduct for Merchant Bankers Understand the SEBI prescribed Code of Conduct as specified in schedule III of the SEBI MB Regulations
    • General Obligations and Responsibilities
    • Moreover, redress of Investor Grievance and SCOREs
  • Issue Management – Important Terms
    • Understand the various terms related to Public Offering Initial Public Offer Further Public Offer
  • Issue Management – Process and Underwriting
    • Issue Management
    • Pricing of an Issue Discuss Regulation 28 of the regulation, as how the issuer determines the price of the security in consultation with the Lead Merchant Banker.
    • Moreover, underwriting Discuss the role of merchant banker in underwriting of an issue as given under Regulation 13 with focus on the prescribed conditions as given under the regulation.
    • Minimum Subscription
    • Allotment, Refund and Payment of Interest Explain how the allotment, refund and payment of interest is done
  • Issue Management – General Obligations of Merchant Bankers and Due Diligence
    • Preferential Issue Pricing
    • Qualified Institutional Placement Pricing
    • Rights Issue Pre-issue advertisement
    • Institutional Placement Program
    • Moreover, due Diligence Role of External parties in the due diligence process Key due diligence documents.
  • Other Merchant Banking Activities – Mergers, Acquisitions & Takeovers
    • Mergers , Acquisitions and Takeover
    • Role of Merchant Banker in M&A and Takeover
    • Moreover, SEBI Regulations, 2011
  • Other Merchant Banking Activities – Disinvestment, Buyback of Equity Shares
    • Disinvestment
    • Discuss the Role of Merchant Banker in Buyback of Equity Shares
    • Discuss the Role of Merchant Banker in Delisting of Shares
    • Role of Merchant Banker in ESOPs

NISM Series-IX: Merchant Banking Study Guide

The NISM Series-IX: Merchant Banking exam requires a lot of hard work combined with right set of resources to ace the exam. There are various resources available on the internet, but we must choose which ones are most valuable to us. The resources allow us to achieve more in less time. This will make it easier to increase the amount of time available for practice and modifications. Let’s have a look at a few resources that will assist you in passing the exam with flying colors.

NISM Series-IX: Merchant Banking Study Guide

1. Getting familiar with Course Outline

  • Introduction to the Capital Market
  • Introduction to the Merchant Banking
  • Registration, Code of Conduct & General Obligations of Merchant Bankers in India
  • Issue Management – Important Terms
  • Issue Management – Process and Underwriting
  • Other Merchant Banking Activities – Disinvestment, Buyback of Equity Shares
  • Issue Management – General Obligations of Merchant Bankers and Due Diligence
  • Other Merchant Banking Activities – Mergers, Acquisitions & Takeovers

2. Study Resources

  • Practice exams: The NISE provides its candidates with online free practice test on its official website. Candidates who aspire to qualify this exam must look at this useful resource.
  • Buy Workbooks: Candidates can buy NISM workbooks online through Taxmann Publications Private Ltd.
  • Online Training Program: NISM conducts Investor Education programs for different Government Institutions/ Law enforcement agencies / Private and Public organizations and colleges across the country.
  • NISM YouTube Videos: Candidates can find videos on NISM YouTube channel for their respective course. Moreover, these are free of cost and candidates can go for them as well.

Moreover, keep yourself updated with the upcoming events on NISM official website.

3. Join Online Study Groups

The most effective strategy to prepare for any exam is to join online study platforms or clubs. These study groups aid you by providing the necessary support. It also provides a forum for you to address your concerns with peers and professionals. These study groups have shown to aid applicants in improving their time management skills and motivating them to work harder in order to enhance their grades. Furthermore, having expert advice keeps you up to speed on any changes that occur in any examination.

4. Practice Test

Lastly, while preparing for any examination the most important step is to take Practice tests. These tests do not only help you to check your preparation level, build your confidence and time management but also helps you to get familiar with different types of questions that are frequently asked in the examination. Moreover, you can take our Practice test right now, which consists of questions from basic to advanced level in a systematic manner.

NISM Series-IX: Merchant Banking practice test
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