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      Question

      Which of the following statements is true about Red

      herring prospectus?
      A Issued by a company proposing to make an offer of securities Correct Answer Incorrect Answer
      B Issued to attract different investors Correct Answer Incorrect Answer
      C Issued prior to issue of a prospectus Correct Answer Incorrect Answer
      D A and B are true Correct Answer Incorrect Answer
      E A, B and C are true. Correct Answer Incorrect Answer

      Solution

      As per Section 32 of Companies Act, 2013, a company proposing to make an offer of securities may issue a red herring prospectus prior to the issue of a prospectus. It is basically a prospectus which is used in the public issue to attract different investors. ┬а Snapshoot - Topic covered in Live class of SEBI Legal Course ixamBee

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