law: Companies Act, 2013 
  32. 
  
   Red
  
  herring prospectus.
  1.      A company proposing
  
  to make an offer of securities may issue a red herring prospectus prior to the
  
  issue of a prospectus.
  2.      A company proposing
  
  to issue a red herring prospectus under sub-section (1 ) shall file it
  
  with the Registrar at least three days prior to the opening of the subscription
  
  list and the offer.
  3.      A red herring
  
  prospectus shall carry the same obligations as are applicable to a prospectus
  
  and any variation between the red herring prospectus and a prospectus shall be
  
  highlighted as variations in the prospectus.
  4.      Upon the closing of
  
  the offer of securities under this section, the prospectus stating therein the
  
  total capital raised, whether by way of debt or share capital, and the closing
  
  price of the securities and any other details as are not included in the red
  
  herring prospectus shall be filed with the Registrar and the Securities and
  
  Exchange Board.
  Explanation.— For the purposes of
  
  this section, the expression "red herring prospectus" means a
  
  prospectus which does not include complete particulars of the quantum or price
  
  of the securities included therein.