Section 23 — Public offer and private placement

(1) A public company may issue securities—
(a) to public through prospectus (herein referred to as “public offer ”) by complying with the
provisions of this Part; or
(b) through private placement by complying with the provisions of Part II of this Chapter; or
(c) through a rights issue or a bonus issue in accordance with the provisions of this Act and in case
of a listed company or a company which intends to get its securities listed also with the provi sions of
the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the rules and regulations made
thereunder.
(2) A private company may issue securities—
(a) by way of rights issue or bonus issue in accordance with the provisions of this Act; or
(b) through private placement by complying with the provisions of Part II of this Chapter.
5[(3) Such class of public companies may issue such class of securities for the purposes of listing on
permitted stock exchanges in permissible foreign jurisdictio ns or such other jurisdictions, as may be
prescribed.
(4) The Central Government may, by notification, exempt any class or classes of public companies
referred to in sub-section (3) from any of the provisions of this Chapter, Chapter IV, section 89, section 90
or section 127 and a copy of every such notification shall, as soon as may be after it is issued, be laid before
both Houses of Parliament.]