NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents (Corporate) Certification

• Employees of Registrar & Transfer Agent (RTA) companies
• IPO processing professionals
• Compliance officers
• Company secretaries
• Merchant bankers
• Depository participants
• Stock exchange professionals
• Finance and commerce students interested in securities markets

What You’ll Learn

The examination focuses on the operational and regulatory aspects of securities issuance and investor servicing.

Module 1: Securities Market Overview

Topics include:

• Structure of Indian securities markets
• Primary market
• Secondary market
• SEBI’s role
• Stock exchanges
• Depositories
• Market intermediaries

Module 2: Public Issues

Topics include:

• Initial Public Offer (IPO)
• Follow-on Public Offer (FPO)
• Rights Issue
• Bonus Issue
• Preferential Issue
• Qualified Institutional Placement (QIP)

Module 3: Role of Registrar to an Issue

Key responsibilities:

• Processing applications
• Allotment procedures
• Refund processing
• Basis of allotment
• Corporate action execution
• Investor communication

Module 4: Share Transfer Agent Functions

Topics include:

• Share transfers
• Transmission of securities
• Name changes
• Duplicate certificates
• Consolidation and split
• Investor requests
• Record keeping

Module 5: Dematerialisation & Rematerialisation

Covers:

• NSDL and CDSL
• Demat account process
• Dematerialisation
• Rematerialisation
• ISIN
• Corporate actions through depositories

Module 6: Corporate Actions

Includes:

• Dividend payments
• Bonus shares
• Stock split
• Rights issue
• Buyback
• Merger
• Amalgamation
• Delisting

Module 7: Investor Services & Grievance Handling

Topics include:

• Investor complaints
• SCORES portal
• Service standards
• Timelines
• Complaint resolution

Module 8: Regulatory Framework

Important regulations include:

• SEBI (Issue of Capital and Disclosure Requirements) Regulations
• SEBI (Listing Obligations and Disclosure Requirements) Regulations
• Companies Act, 2013
• Depositories Act, 1996
• SEBI circulars applicable to RTAs

Module 9: Risk Management

Topics include:

• Operational risks
• Internal controls
• Data security
• Cybersecurity
• Business continuity
• Audit requirements

Skills You Gain

After completing the certification, you’ll understand:

• IPO processing from application to allotment
• Share transfer procedures
• Demat and remat operations
• Corporate action management
• Investor grievance redressal
• SEBI regulations governing RTAs
• Compliance and operational controls

Career Opportunities

This certification is valuable for roles such as:

• Registrar & Transfer Agent Executive
• IPO Operations Executive
• Corporate Actions Executive
• Depository Operations Officer
• Compliance Executive
• Share Registry Officer
• Investor Relations Executive
• Back Office Operations Executive
• Corporate Secretarial Executive

Preparation Tips

• Learn the end-to-end IPO process.
• Understand the roles of NSDL, CDSL, stock exchanges, and RTAs.
• Revise SEBI regulations related to issue management and investor services.
• Focus on timelines and procedural requirements.
• Practise scenario-based MCQs on corporate actions and share transfers.

Recommended Study Plan

• Day 1: Securities Market & Primary Market
• Day 2: Public Issues & IPO Process
• Day 3: Registrar to an Issue Operations
• Day 4: Share Transfer Agent Functions
• Day 5: Dematerialisation, Corporate Actions & Depositories
• Day 6: SEBI Regulations & Investor Grievances
• Day 7: Revision and Mock Tests

Difficulty Level

The certification is generally considered easy to moderate. Candidates with a background in capital markets, company secretarial practice, or depository operations typically find it manageable with focused preparation. Understanding the IPO process, corporate actions, and SEBI regulations is key to scoring well.