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Expertmile Admin Expertmile Technologies private limited, Admin

3 years ago

What is prospectus as per Companies Act, 2013?

As per Companies Act, 2013 Section 2(70) prospectus means any document described or issued as a prospectus and includes a red herring prospectus referred to in section 32 or shelf prospectus referred to in section 31 or any notice, circular, advertisement or other document inviting offers from the public for the subscription or purchase of any securities of body corporate 

Thus, it is clear from the above definition of the prospectus that prospectus is a document issued by the company inviting the public and investors for the subscription of its securities. A prospectus also helps in informing the investors about the risk of investing in the company.  A prospectus is a just an invitation to offer securities to the public and not an offer in the contractual sense.

Red herring prospectus or shelf prospectus are types of prospectus which shall be discussed later

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