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of <h1>Private placement of securities allowed without prospectus under conditions: limited offerees, minimum investment, and specific offer letter.</h1> A company may offer or invite subscription of securities via private placement without issuing a prospectus, subject to specific conditions. These include limiting the number of offerees, setting a minimum investment size, and using a private placement offer letter. Offers exceeding prescribed limits are deemed public offers. Securities must be allotted within 60 days of receiving application money, with refunds due if not allotted. Offers must be made to pre-recorded individuals, without public advertising, and filed with the Registrar. Non-compliance results in penalties and mandatory refunds. The Central Government may establish additional rules for such offers.
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