What are Primary and Secondary markets? Explain the Principal steps involved in floating a Public Issue and discuss the SEBI guidelines for floating Initial Public Offering (IPO) with help of a care example.

Primary and Secondary Markets:

The primary and secondary markets are two integral components of the financial market that facilitate the buying and selling of financial instruments, such as stocks and bonds.

Primary Market:
The primary market is where new securities are issued for the first time. It involves the process of creating and selling new securities to investors directly by the issuing company. The main purpose of the primary market is to raise capital for businesses. In this market, companies issue new shares through methods like Initial Public Offerings (IPOs) or Rights Issues. Investors purchase these newly issued securities, and the funds raised go directly to the issuing company.

Secondary Market:
The secondary market, on the other hand, is where existing securities are traded among investors. In this market, securities that were previously issued in the primary market are bought and sold. The secondary market provides liquidity to investors by allowing them to sell their securities to other investors without involving the issuing company. Stock exchanges like the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are examples of secondary markets.

Principal Steps Involved in Floating a Public Issue:

1. Appointment of Intermediaries:
   Companies planning to go public typically appoint intermediaries such as investment bankers, underwriters, and legal advisors. These professionals assist in the process of issuing securities and ensure compliance with regulatory requirements.

2. Due Diligence:
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