Is prospectus required for private placement of shares as per tca 2013?

Abraham (Articled Assistant) (7 Points)

13 January 2019  

As per Sec 42 of TCA 2013, "Without prejudice to the provisions of section 26, a company may, subject to the provisions of this section, make private placement through issue of a private placement offer letter."

and section 26 is titled "matters to be stated in a prospectus"

Kindly mention if prospectus required to be issued for private placement of shares