This is the first book to present a comprehensive overview of the operations, regulations and important developments in the Indian capital markets which both foreign and domestic investors will find immensely useful — as will the various market players and participants.

The Indian securities market is an emerging market with enormous growth potential, and a key to the country’s future economic prosperity. However, since its practices and regulations have not been documented in an investor-friendly manner, it is often perceived as puzzling and difficult to understand. This book sets right the lacuna.

The author provides a meticulous analysis and description of the Indian capital market based on his experience as an investment banker in both developed and developing countries. The topics described include:

• Regulatory and legal framework of the Indian securities market; roles of market regulatory bodies

• Indian stock exchanges: organization, membership, trading mechanism and stock indices

• Trading rules and practices for stocks and debt instruments

• Custody, settlement and clearing issues — procedures and problems

• Investing in new issues — disclosure and accounting practices of Indian companies

• Characteristics of the Indian debt market, types of debt instruments, rating agencies

• Market participants and how they operate

• Emerging developments such as electronic trading, dematerialization of stocks, depositories, stock lending and share buy-back.

Highlights for foreign investors:

• Foreign investors eligible to invest in India; investment routes and options

• Portfolio investment by foreign investors: rules, regulations and procedures

• Taxation rates and bilateral tax treaties.

Tadashi Endo is a Singapore-based Managing Director, Asia/Oceania Group of The Nikko Securities Co. Ltd., a leading Japanese investment banking company. At Nikko, he has earlier worked in New York, Tokyo and Bangkok and thus has a perspective both of developed and emerging capital markets of the world.

His interest and experience in India dates back to his university days when he obtained a B.A. in Indian studies from the Osaka University of Foreign Affairs in 1974, followed by post-graduate work in Indian history at Jawaharlal Nehru University under a Government of India Scholarship. Mr. Endo also holds an MBA degree in Finance from Boston University, USA.

Mr. Endo has decided to donate the royalties he earns from this book to Mother Teresa’s organisation, the Missionaries of Charity