दलाल स्ट्रीटDALAL STREETan Ultra Vires appDownload on theApp Store

Tuesday, 13 October 2026Market open until 3:30 PMLast update 12:45 IST

Learn

How the market events work

Every topic in three levels. Level 1: how it works and how money is made. Level 2: the mechanics. Level 3: the nuances. Start anywhere; each level stands on its own.

Buybacks

A company repurchasing its own shares, by tender offer or on the open market.

  1. L1How money is made in a buyback
  2. L2How the acceptance ratio is worked out
  3. L3Promoters, odd lots and the tax edge casesBeing written

Delisting

A promoter taking a company off the exchange, and the auction that sets the price.

  1. L1How delisting works
  2. L2Inside the reverse book buildBeing written
  3. L3Counter offers, failed delistings and exit windowsBeing written

IPOs

Bidding, categories, allotment, the grey market and listing day.

  1. L1How an IPO works, and how money is madeBeing written
  2. L2Categories, allotment and the lotteryBeing written
  3. L3Anchors, lock-ins and SME rulesBeing written

Offers for Sale

Promoters selling stock through the exchange window over two days.

  1. L1How an Offer for Sale worksBeing written
  2. L2Floor, cutoff and the retail dayBeing written
  3. L3Carry-forward and the green shoeBeing written

Rights issues

New shares offered to existing holders, and the entitlements that trade.

  1. L1How a rights issue worksBeing written
  2. L2Rights entitlements and their trading windowBeing written
  3. L3Partly paid shares and callsBeing written

Open offers

An acquirer crossing a SEBI threshold and offering to acquire more from the public.

  1. L1How an open offer worksBeing written
  2. L2Triggers, pricing and acceptanceBeing written
  3. L3Competing offers and withdrawalsBeing written

Every term the site uses is defined in the glossary.