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Jab koi company apni aarthik jarooraton ko pura karne ke liye naye share ya debenture jaari karke seedhe niveshakon se dhan ki ugaahee karti hai, to aisa woh company praathmik bazaar ke tahat karti hai. Company naye initial public offer praathmik bazaar mein laakar naye share ya debenture jaari karti hai. Doosre shabdon mein kahe to primary market woh jagah hai jahan securities ko astitva mein laaya jata hai. Kisi bhi company ko apna vyavasaay chalane ke liye dhan ki aavashyakta hoti hai aur yah dhan us company ka ‘capital’ kehlata hai. Company ise do prakar se haasil karti hai: share jaari karke tatha udhaar lekar. Dhan ki vah adhiktam matra jo company niyamanusar share jaari karke haasil kar sakti hai, company ka authorised capital kehlata hai. Is authorised capital mein se company share jaari karke jo punji haasil karti hai, vah us company ka share capital kehlati hai. Company yah share capital ek hi baar ya vibhinn tareekon mein praathmik bazaar mein utarkar, share jaari karke haasil kar sakti hai. Jab kisi share ki keemat uski face value ke barabar ho, tab yah share ‘at par’ kehlata hai. Aisi avastha mein share par laga premium shoonya hota hai tatha share ki 'par value' hi share ki face value hoti hai. Udaharan ke liye yadi share ki face value 10 rupaye ya 100 rupaye hai, to yah inki bikri bhi 10 rupaye ya 100 rupaye par ki jayegi. Jab share ki keemat uski face value se zyada hoti hai, arthaat us share par premium hota hai, aisi avastha ko ‘above par’ kahte hai.
©2008 Prabhat Prakasha (P)2019 Audible, Inc.

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