The primary market is where companies and governments issue securities to investors for the first time to raise capital. Securities are offered through Initial Public Offerings (IPOs), Follow-on Public Offers (FPOs), rights issues, or bond issuances. In the primary market, investors buy securities directly from the issuer rather than from other investors. The issue process is regulated by SEBI and may involve the book-building process, price band, and share allotment before the securities are listed on a stock exchange.
