Section 23 of The Companies Act, 2013: Public offer and private placement.
About this Act
An Act to consolidate and amend the law relating to companies.
Rules, notifications and other official documents for this section:
Rules under Section 23 3
Official documents that India Code links to this section. The section text continues below this box.
Companies (Declaration and Payment of Dividend) Second Amendment Rules, 2015
Official text (English portion of the published document)
The Companies (Declaration and Payment of Dividend) Amendment Rules, 2015.
Official PDFView on India Code
Official text (English portion of the published document)
Chapter VIII - The Companies (Declaration and Payment of Dividend) Rules, 2014.
Official PDFView on India Code
Official text (English portion of the published document)
Source: India Code, Legislative Department, Government of India. The text shown is the English portion extracted from the official PDF; the PDF is the authoritative version.
Section 23Public offer and private placement.
(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.
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.
(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.
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.