(2)A private company may issue securities—(a)by way of rights issue or bonus issue in accordance with the provisions of this Act; or(b)through private placement by complying with the provisions of Part II of this Chapter.Explanation.—For the purposes of this Chapter, “public offer” includes initial public offer or further public offer of securities to the public by a company, or an offer for sale of securities to the public by an existing shareholder, through issue of a prospectus.
