Investment Banking

Program Credit Course Code Objective : PGPM : 3 : SL BK 610 Class of : 2012 Sessions : 30

To familiarize students with the services offered by modern investment bankers. The course aims to expose students with the process of raising funds from various instruments in India and overseas markets as also various other services offered by intermediaries & investment Bankers. REFERENCE BOOKS Investment Banking Investment Banking & Financial Services Mergers, Acquisitions and other restructuring activities Damodaran on Valuation A Manual of Merchant Banking SEBI Guidelines Capital Market Management Financial Institutions and market Primary Market & IPO Economic Times Market Watch AUTHOR / PUBLICATION Pratap G. Subramanyam / Tata Mcgraw Hill IUP Donald M. DePamphilis / Elsevier Academic Press Aswath Damodaran / Wiley Publications0 J C Verma Bharat Law House Nabhi Publications V A Avadhani Himalaya Publishing House L M Bhole Tata McGraw Hill, 4th edition ICFAI Publication ICFAI Publication

Detailed Syllabus Introduction to Investment Banking: Evolution of Investment banking in India, Scope, management of debt and equity, corporate advisory services, project advisory services, loan syndication, venture financing, private equity, M&A, financial engineering, structural analysis of investment banking industry Financial Markets: Government Securities Market, Primary & Secondary market for G.sec, Call money market: Money Market, Treasury Bill Market, Commercial Paper and Certificate of Deposits, Discount and Finance House of India, Corporate Debt market Recent Developments. Merchant Banking: Nature and scope of Merchant Banking - Regulation of Merchant Banking Activity Overview of Current Indian Merchant Banking Scene

- Structure of Merchant Banking Industry - Primary Markets in India and Abroad - Professional Ethics and Code of Conduct - Current Development, Procedural Aspects of Primary Issues - Pre- Issues Decision Making - SEBI Guidelines for Public Issues IPO -Pricing and Timing of Public Issues - PreIssue Management Regulatory aspects -Advertising and Marketing, Post-Issue Management - Rights Issues Raising finance from international markets Intermediaries, euro-dollar market, InstrumentADR/GDR, FCCB, ECB-Regulatory aspects Corporate Restructuring Economic rationale of corporate restructuring, Debt restructuring, expansion, tender offers, sell offs, spin offs, divestiture, M&A - legal aspects and accounting aspects

Corporate Valuation Principles of valuation, capital budgeting as a model for firm valuation, FCFE basis fro valuation, increasing the value of organization Financial engineering Structural financial products, Risk in financial engineering, Innovative financial instruments investor-regulator Issuer

points of view Financial Bubbles, Scams and crisis reasons and consequences of financial crisis and scams Current developments - deleted

SEBI DIP guidelines from www.sebi.gov.in Case studies from www.sebi.gov.in Book building- Mahindra Holidays Sponsored ADR issue of Infosys Standard Chartered Bank-IDR issue BOC reverse book building

Suggested Schedule of Sessions Topic Introduction to Investment Banking Financial Markets Merchant Banking Raising finance from International markets Corporate restructuring Corporate valuation Financial Engineering Financial bubbles, scams and crisis Current developments and cases Total No. of Sessions 3 3 5 3 5 5 4 2 2 30