Is prospectus required for private placement of shares as per tca 2013?

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As per Sec 42 of TCA 2013, "Without prejudice to the provisions of section 26, a company may, subject to the provisions of this section, make private placement through issue of a private placement offer letter."

and section 26 is titled "matters to be stated in a prospectus"

Kindly mention if prospectus required to be issued for private placement of shares

Replies (3)
no the prospectus shall not be issued on case of private placement because the shares in case of private placement the shares are issued to the relatives of the promotors

In Private Placement offer Private Placement Offer Letter is required stead Prospectus.The said Letter should be in Form PAS-4

prospectus for private placement in case of private company not required

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