Examination Overview - NISM Series IX: Merchant Banking Certification
The NISM-Series-IX: Merchant Banking Certification Examination is designed to create a minimum knowledge benchmark for employees working with SEBI-registered Merchant Bankers. It is especially relevant for professionals who:
Work on SEBI-regulated activities such as IPOs, FPOs, Buy-backs, Open Offers, and Delisting.
Interact with issuers or intermediaries involved in such transactions.
Act as Compliance Officers submitting Due Diligence Certificates to SEBI.
The exam ensures a sound understanding of capital market functions, regulatory frameworks, merchant banking processes, and SEBI regulations for efficient and compliant execution of responsibilities.
Examination Objectives
Upon successful completion, the candidate should be able to:
Understand the basics of Merchant Banking in India and its evolving scope.
Grasp issue management processes, takeovers, delisting, and buybacks under SEBI norms.
Know the regulatory environment and due diligence responsibilities handled by Merchant Bankers.
For more details, please visit the official website of
NISM.
Assessment Structure
| Component |
Details |
| Number of Questions | 100 |
| Marks per Question | 1 mark |
| Total Marks | 100 |
| Passing Criteria | 60% (60 marks) |
| Negative Marking | 25% per incorrect answer |
| Duration | 2 Hours |
Syllabus Outline with Weightages
| Chapter |
Chapter Title |
| 1 | Introduction to Capital Market |
| 2 | Introduction to Merchant Banking |
| 3 | Registration, Code of Conduct & General Obligations of Merchant Bankers |
| 4 | Issue Management - Important Terms |
| 5 | Issue Management - Process and Underwriting |
| 6 | Issue Management - Due Diligence & General Obligations |
| 7 | Other Merchant Banking Activities - Mergers, Acquisitions & Takeovers |
| 8 | Other Merchant Banking Activities - Disinvestment, Buyback, Delisting |
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