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National Institute of Securities Markets (NISM), Mumbai Overview

Mumbai AICTE ESTD 2006

About College

Latest Updates:

NISM Mumbai Admissions 2026 – 28 are now open. Apply now for the PGDM (Securities Markets) program

The National Institute of Securities Markets (NISM), established in 2006 by the Securities and Exchange Board of India (SEBI), is a premier public institution. National Institute of Securities Markets offers a range of programs, including full-time PGPISM and LLM degrees, as well as part-time PGP (in Portfolio Management, Investment Advisory, and Research Analysis) and CPDS courses. Admissions to NISM Mumbai programs are based on various national-level entrance exams.

NISM’s academic offerings are designed to nurture next-generation professionals in the securities market. Its regulatory foundation and close industry ties facilitate hands-on, career-focused education through guest lectures, executive training, conferences, e-learning, certification programs, and investor awareness initiatives. The institute also boasts strong placement support, including online placement services for final-year students. The highest package recorded is INR 14.1 LPA, with an average package of INR 7 LPA.

NISM engages in a broad spectrum of capacity-building initiatives, including academic programs, professional certifications (as part of regulatory mandates), regulatory research, financial literacy efforts, corporate governance, and market-related research — all aimed at elevating the quality standards of the securities markets. The Institute maintains strong collaborations with Market Infrastructure Institutions, intermediaries, academic bodies, regulators, issuers, and other market participants. Its influence also extends globally, particularly in developing countries such as Bangladesh, Myanmar, Cambodia, Laos, Vietnam, and other IOSCO member nations, where it supports market development through advanced training partnerships.

Situated on a 72-acre campus, National Institute of Securities Markets (NISM) offers cutting-edge academic, residential, and recreational i

Latest Updates:

NISM Mumbai Admissions 2026 – 28 are now open. Apply now for the PGDM (Securities Markets) program

Situated on a 72-acre campus, National Institute of Securities Markets (NISM) offers cutting-edge academic, residential, and recreational infrastructure, along with a well-resourced library. The Institute’s SMART Finance Lab stands among the most advanced in India, providing students with immersive, hands-on experience in end-to-end trading using a simulated terminal fed with real-time (5-minute delayed) market data. NISM’s six specialized schools work in unison to foster a professional, globally competent securities market ecosystem.

NISM Mumbai Courses 2026

The National Institute of Securities Markets (NISM) offers a diverse range of long-term programs tailored for individuals aiming to build or advance their careers in the securities and financial markets. Below is an overview of these programs:

1. Post Graduate Diploma in Management (Securities Markets) – PGDM (SM)

Duration: 2 years (Full-time, AICTE-approved)
Focus Areas: Economics, Corporate Finance, Portfolio Management, Equity Valuation, Derivatives, Mutual Funds, Wealth Management, and more.
Eligibility:
- Bachelor’s degree (minimum 3 years) with at least 50% marks (45% for reserved categories).
- Final-year students can apply provisionally.
Career Opportunities: Roles in equity and debt markets, investment banking, mutual funds, compliance, risk management, and advisory services.
Placement Highlights:
- Average CTC: ₹9.07 LPA
- Highest CTC: ₹16.32 LPA
- Top recruiters include ICICI Bank, SBI Mutual Fund, BSE Ltd., Federal Bank, and Axis Trustees.

2. LL.M. in Investment and Securities Law (in collaboration with MNLU Mumbai)

Duration: 1 year (Full-time, residential)
Eligibility:
- LL.B. degree with a minimum of 50% marks (45% for SC/ST).
- Final-year LL.B. students can apply provisionally.
Curriculum Highlights: Advanced Company Law, Securities Regulation, Competition Law, Banking, Foreign Investment, Insolvency Law, and a dissertation.
Career Pathways: Opportunities in legal advisory roles within financial institutions, regulatory bodies, and law firms specializing in securities law.

3. Post Graduate Program in Investment and Securities Markets (PGPISM)

Duration: 1 year (Residential)
Ideal for: Graduates and professionals seeking in-depth knowledge of securities markets.
Curriculum: Economics, Financial Statement Analysis, Corporate Finance, Portfolio Management, Equity Valuation, Fixed Income Securities, Derivatives & Risk Management, Investment Banking, Mutual Funds, and Wealth Management.
Career Opportunities: Roles such as Analysts, Investment Managers, Treasury Managers, Risk Managers, Compliance Officers, Financial Planners, and Wealth Managers.

4. Post Graduate Program in Portfolio Management, Investment Advisory & Research Analysis (PGP PM/IA/RA)

Duration: 15 months (Weekend, hybrid mode)
Specializations:
- Portfolio Management
- Investment Advisory
- Research Analysis
Eligibility: Graduates with an interest in securities markets.
Program Structure: 9 months of foundational courses, 3 months of specialization, and 3 months of dissertation.
Career Pathways: Opportunities in portfolio management firms, investment advisory services, research analysis roles, and potential to start one's own firm

5. Certificate Program in Data Science (Advanced)

Duration: 8 months (Online live sessions)
Eligibility:
- Graduation with 50% marks.
- Completion of a basic-level data science program (minimum 6 months).
Curriculum: Statistical Modeling, Machine Learning, Deep Learning, Financial Econometrics, Time Series & Forecasting, Artificial Intelligence, Big Data, Fintech, Algorithmic Trading, Financial Modeling, and Cyber Security.
Tools Used: Advanced Excel, R, Python, Power BI, and Tableau.
Fee: ₹99,500 (inclusive of GST and alumni fund).

6. Post Graduate Program in Financial Planning (PGPFP)

Focus Areas: Investment Planning, Tax Planning, Retirement Planning, Risk Management, and Estate Planning.
Ideal for: Individuals aiming to build a career in financial planning and wealth management.

7. Certificate Program in Merchant Banking (CPMB)

Objective: To provide comprehensive knowledge of the securities markets ecosystem and equip participants with skills related to SEBI-regulated activities such as IPOs, FPOs, Open Offers, Buy-backs, Delisting, Mergers, and Acquisitions.
Ideal for: Professionals seeking to specialize in merchant banking and related activities.

NISM Mumbai Admissions 2026-2028

Post Graduate Diploma in Management (Securities Markets) – PGDM (SM)

About the Program:

PGDM (SM) is an AICTE approved two-year Post-Graduate Diploma Programme in Management, where the students get exposure to varied subjects and verticals of securities markets including Economics, Financial Statement Analysis, Corporate Finance, Portfolio Management, Equity Valuation, Fixed Income Securities, and Derivatives & Risk Management, Investment Banking, Mutual Funds, and Wealth Management, benchmarked with the best and contemporary texts. Post Graduate Diploma in Management (Securities Markets) – PGDM (SM)

The carefully crafted curriculum, along with application-based teaching pedagogy and industry internship, serves as a strong foundation for further grooming and growth into various career paths in the corporate/financial/securities markets. PGDM (SM) students are positioned to take up a wide range of roles and responsibilities, such as Analysts, Investment Managers, Investment Bankers, Treasury Managers, Risk Managers, Compliance Officers, Financial Planners, Wealth Managers, etc.

Where does PGDM(SM) lead to?

PGDM (SM) can lead the successful participants to the following careers pathways. Some illustrative career opportunities available for PGDM (SM) graduates are as under:

Segments: Equity Markets, Debt Markets, Currency and Currency Derivative Markets, Commodity Derivative Markets
Market Infrastructure Institutions: A wide range of roles (Business Development, Operations, Compliance, Risk Management, etc.) in Market Infrastructure Institutions including Stock Exchanges, Commodity Exchanges, Clearing Corporations and Depositories
Research and Analytics: Credit Research & Ratings, Economic Research, Policy Research, Analytics and Computing in Risk Management & Derivatives
Banking: Commercial banking, Treasury Operations, Treasury Management, etc.
Advisory: Investment Advisor, Personal Financial Planner, Wealth Manager
Mutual Funds: Business Development, Distribution, Operations, Compliance, Risk Management, etc. in the Mutual Funds Industry

The objective for designing a programme of the status of a Post Graduate Diploma is “to create complete securities market professionals”. Since the field of securities markets represents the confluence of several related areas, the post-graduate programme in securities markets rests on the following pillars:

Economics, including financial economics
Finance
Accounting and Reporting
Quantitative Methods and Computing
Law and Compliance
FinTech

Each of the above-mentioned fields is fully represented in the proposed programme, with a balance between elegance and rigour. Based on SSE’s prior experience, but also after infusion of fresh thinking, the architecture of the PGDM (SM) has been conceived. Each course is benchmarked with the best-in-class textbook (recommended text) to arrive at the chosen content.

Selection Procedure

Stage I Online Registration for PGDM-SM Admission 2026-28 (Batch VIII), NISM

(i) NISM invites online applications for admission to the PGDM (Securities Markets) 2026–28 (Batch VIII).

(ii) Registration will start on December 20, 2025 (1730 Hrs) and the last date of online registration will be on March 23, 2026 (2359 Hrs).

(iii) Candidates need to create their Login ID (USERNAME & PASSWORD) for online registration at https://apply.nism.ac.in/pgdm. Upon successful registration, a User-ID and Password will be sent to registered email ID and mobile number of the candidate.

(iv) Candidates need to submit an application/admission data form along with a non-refundable registration fee of Rs. 1,000/- (Rupees One Thousand Only).

(v) Applications in any other mode will not be accepted

Stage II Eligibility cum Shortlisting Criteria

Interested applicants who fulfil the below-mentioned eligibility criteria are required to register for the PGDM-SM 2026-28 (Batch-VIII) via the registration link . https://apply.nism.ac.in/pgdm.

Applicants for admission to the programme will be shortlisted on the basis of their scores in ANY of the following entrance examinations:

Educational Qualifications

Valid Common Entrance Test Score

Eligibility Criteria:

Candidate must satisfy the following criteria to apply for the programme:

Bachelor’s Degree of minimum 3 years’ duration and obtained at least 50% marks.

Note:Candidates who are likely to complete Graduation or equivalent before the 13th of July, 2026 may also apply, subject to meeting the minimum eligibility criteria. If selected, such candidates will be offered admission to the programme provisionally. At the time of registration for the programme, such candidates must produce X and XII and Graduation mark sheets (securing minimum marks i.e. 50%) along with school leaving certificate/ migration certificate, failing which the candidate’s admission offer may stand cancelled.

The candidates are required to qualify in anyone of the four all India Common Admission Tests i.e. CAT 2025, XAT 2026, CMAT 2026, MAT 2025/2026.

Who all will be called for interview? Is there a cut-off score? How will XAT, CMAT and MAT scores be converted to CAT equivalent?

CAT will be the benchmark for screening of applicants. The scores secured by applicants in an approved competitive exam conducted in the most recent year will only be considered after converting the score into equivalent of CAT. The conversion factor will be decided every year by the institute.

Therefore, candidates seeking admission to the PGDM (SM) of NISM must have appeared for any one of the above mentioned tests and submit the score secured in the test in his/her application

Stage III Online Personal Interview (PI)

(I) Shortlisted candidates from Stage-II will appear in Stage-III i.e Online Personal Interview.

(ii) All shortlisted candidates will be informed by Email or download their call letters to appear in the Online Personal Interview. All the required details like date, time and other guidelines will be mentioned in the call letter.

(iii) Eligible candidates will receive an Email for the Online Personal Interview process for PGDM-SM Admissions 2026-28 (Batch VIII).

Stage IV Final Selection List Based on Entrance Score, Online Personal Interview & Diversity Scores

(I) The offer of admission to the candidate will be made strictly on the basis of merit/ rank list.

(ii) The Merit List will be generated based on the valid composite score of Entrance score 2025, Online Personal Interview, Past Academics and Gender Diversity. The merit list for the admissions is prepared as per the weightage given below:

Component	Weightage (%)
Competitive Exam Score (CAT 2025, XAT 2025, CMAT 2025, MAT 2025/26)	50
Personal Interview (PI)	30
Past Academics (X^th / SSC) or Equivalent Examination	5
Past Academics (XII / HSC) or Equivalent Examination	5
Past Academics (Graduation)	5
Profile (Academic Diversity and Gender Diversity)	5
Total	100

Stage V Provisional Admission to PGDM-SM 2026-28 (Batch VIII).

(i) NISM follows reservation policy as per AICTE Norms.

(ii) Only selected candidates will receive a provisional offer letter for admission from [email protected] on their registered email ID shortly after the declaration of the merit list. A candidate receiving an admission offer from National Institute of Securities Markets and accepting the offer within the stipulated date needs to deposit Rs. 2,86,950/- as the OAA i.e. Offer Acceptance Amount (or as mentioned in the Offer Letter).

(iii) An automated receipt and a text message of the transaction will be shared by the associated bank on the registered email id/ mobile no. of the candidate.

(iv) On acceptance of the admission offer and payment of OAA, the candidate will receive his/her confirmation letter for provisional admission to PGDM-SM 2026-28 (Batch VIII) on his/her registered email ID. The paid OAA will be adjusted with the First Year Programme Fee. If a candidate fails to pay the 1st instalment of First Year Programme Fees by the stipulated date mentioned in the admission confirmation letter, the seat will be cancelled.

(v) The fee structure for PGDM-SM 2026-28 (Batch VIII) is appended below:

Programme Fee Structure for PGDM (SM) 2026–28

Fee Structure of PGDM-SM 2026-28 (Batch- VIII)
Particulars	1st Installment	2nd Installment	3rd Installment	4th Installment
Tuition Fee	1,45,200	1,45,200	1,45,200	1,45,200
Lab & Library Fee	15,000	15,000	15,000	15,000
Exam Fee	5,000	5,000	5,000	5,000
Alumni Fund	2,000	–	–	–
Student Welfare	6,000	–	–	–
Total Program Fees (A) *	1,73,200	1,65,200	1,65,200	1,65,200
Library Deposit – Refundable (B)	10,000	–	–	–
Total Fees including Refundable Deposits (A + B)	1,83,200	1,65,200	1,65,200	1,65,200
Gross Total	6,78,800
Due Date	Within 10 days of receiving offer letter	November 01, 2026	June 15, 2027	November 01, 2027

Stage VI Reporting for joining the PGDM-SM 2026-28 (Batch VIII).

(I) Final selected candidates who have deposited OAA and got a confirmation letter for provisional admission will be required to report physically (on the stipulated date and time) on the Institute campus for registration, followed by physical verification of educational documents and other testimonials as per checklist shared on later stage.

(ii) The academic session will tentatively begin from July 13, 2026.

(iii) The hostel room allocation to the candidate will be done on a sharing basis. Hostel rooms for the DAP candidates will be arranged on the ground floor or first floor (preferably). The fee structure for Hostel and Mess Charges for the PGDM SM 2026–28 (Batch VIII) is provided below.

Hostel and Dining Fee Structure of PGDM-SM 2026-28 (Batch-VIII)
Particulars	1st Installment	2nd Installment	3rd Installment	4th Installment
Accommodation Fee	57,000	57,000	57,000	57,000
Dining Fee	35,000	35,000	35,000	35,000
GST on Food (5%)	1,750	1,750	1,750	1,750
Total Accommodation & Dining Fee (A)	93,750	93,750	93,750	93,750
Hostel Deposit – Refundable (B)	10,000	–	–	–
Total Fees including Refundable Deposits (A + B)	1,03,750	93,750	93,750	93,750
Gross Total	3,85,000
Due Date	Within ten days of receiving offer letter	November 01, 2026	June 15, 2027	November 01, 2027

# AC accommodation on a twin-sharing basis. Centralized AC will be available between 9:00 pm to 06:00 am only

Note: Students are required to vacate the hostel during the internship period. Accordingly, hostel charges for this period have been excluded from the above fee. In case a student wishes to stay in the campus during the internship period, he/she has to bear additional charges for the same.

Note:

(I) Comfortable hostel accommodation, separate for boys and girls, is available in the campus.
(ii) Accommodation and Dining Charges once paid by a student will not be refunded under any circumstances.
(iii) The hostels are well equipped with all the modern amenities and are under the charge of caring and experienced Wardens.
(iv) NISM Dining Hall and Cafeteria: A spacious well lit and well ventilated cafeteria in the campus serves sumptuous and healthy food to the students. The variety of dishes which are both healthy and tasty and are crafted by a team of professional dieticians to ensure a well-balanced diet.
(v) NISM Recreational Facilities: National Institute of Securities Markets (NISM) has a world class sports complex and extensive sports facilities. NISM offers ample opportunities to students for a regular work-out and lifestyle management by providing a host of excellent sports facilities. It has facilities for games like cricket, basketball and volleyball as well as indoor games like chess, carom, table-tennis, badminton, etc.
(vi) Medical Facilities: National Institute of Securities Markets (NISM) provides Student Safety Insurance and a visiting doctor within the Campus. Ambulance facility (on call) is available in case of any emergency.
(vii) Laundry facilities are available on payment basis at our campus.

Post Graduate Diploma in Management (Securities Markets) Placement Report 2022-2024

Executive Summary

The NISM campus placement drive for the PGDM(SM) program was held at the Patalganga Campus, with participation from more than 50 companies. From the batch size of 92 students, 81 students opted in placement drive and received offers for diverse roles. The placement cell successfully secured placements for all students who opted to participate.

Salary Packages	CTC
Maximum	16.32 LPA
Average	9.07 LPA

The salary package (CTC) comprises of fixed, variable and allowances offered by the company.

Major Recruiters:

LL.M. (Investments and Securities Law)

The LL.M. program in Investment and Securities Law is a specialized postgraduate course tailored for both students and legal professionals who aspire to build expertise in the legal aspects of the financial markets. Committed to delivering high-quality education in securities market law, the National Institute of Securities Markets (NISM) has partnered with Maharashtra National Law University, Mumbai (MNLU), one of India’s leading law universities, to offer this intensive, full-time program.

Designed with future legal professionals in mind—especially those aiming for careers in financial markets—the program delivers rigorous academic training focused on the legal and regulatory framework of investments and securities in India.

Aligned with NISM's mission of academic excellence, the curriculum provides in-depth exposure to a wide range of subjects, including corporate law, regulation of securities issuance and trading, market supervision, enforcement mechanisms, corporate finance, foreign investment, financial advisory, derivatives, regulation of banks and financial institutions, competition law, and insolvency legislation. The course offers foundational knowledge of three key Indian securities laws:

The Securities Contracts (Regulation) Act, 1956
The SEBI Act, 1992
The Depositories Act, 1996

It also delves into more than 39 SEBI-framed regulations and their role in shaping India’s securities market. A practical component of the course includes training in the documentation processes of securities market transactions and understanding the typical legal disputes that may arise in such contexts.

The program is conducted by distinguished faculty from both NISM and MNLU. Additionally, it features sessions by leading corporate and securities law practitioners, regulatory officials from various financial bodies, and visiting faculty including professors from international universities and global financial experts.

Focused on delivering an interdisciplinary perspective on legal and financial market education, this program is ideal for both aspiring and experienced professionals seeking to develop the tools and skills necessary to succeed as business lawyers or financial market legal experts.

Who Should Apply?

This program is best suited for individuals passionate about the securities markets and eager to gain in-depth legal and regulatory knowledge over a focused one-year period. Whether you're a recent graduate or a seasoned professional, this LL.M. provides the perfect launchpad for a long-term career in corporate law, finance, and securities regulation.

Graduates from diverse academic backgrounds—such as Law, Commerce, Management, Economics, Engineering, Mathematics, and Statistics—will benefit from a curriculum designed to enhance analytical abilities and practical understanding. The program prepares participants to take on leadership roles in the financial and securities market landscape.

Career Opportunities after LL.M.

The LL.M. in Investment and Securities Law opens up a wide range of career pathways for successful participants, equipping them for specialized roles across the financial and legal sectors.

Potential Career Segments Include:

Securities Markets:
Opportunities in Equity, Debt, Currency, and Commodity Derivative Markets.
Market Infrastructure Institutions:
Roles in Business Development, Operations, Compliance, Risk Management, and more across institutions such as Stock Exchanges, Commodity Exchanges, Clearing Corporations, and Depositories.
Banking Sector:
Positions in Commercial Banking, Treasury Operations, Treasury Management, and related functions.
Financial Advisory:
Careers as Investment Advisors, Personal Financial Planners, and Wealth Managers.
Mutual Fund Industry:
Roles in Business Development, Distribution, Operations, Compliance, and Risk Management within the mutual funds sector.

This program is designed with the clear objective of developing a cadre of skilled professionals for the securities markets, in line with NISM’s vision to build expertise and leadership in this specialized legal and financial domain.

Selection Procedure

Stage I: Online Registration for LLM (I&SL) Admission 2026-27 (Batch VI), NISM

(I)	NISM invites online applications for admission to the LLM (Investment and Securities Laws) 2026–27 (Batch VI).
(ii)	Registration will start on December 20, 2025 (1730 Hrs) and the last date of online registration will be on April 03, 2026 (2359 Hrs).
(iii)	Candidates need to create their Login ID (USERNAME & PASSWORD) for online registration at https://apply.nism.ac.in/llm Upon successful registration, a User-ID and Password will be sent to registered email ID and mobile number of the candidate.
(iv)	Candidates need to submit an application /admission data form along with a non-refundable registration fee of Rs. 1,000/- (Rupees One Thousand Only).
(v)	Applications in any other mode will not be accepted.

Stage II: Eligibility cum Shortlisting Criteria

(I) Interested applicants who fulfil the below-mentioned eligibility criteria are required to register for the LLM (Investment and Securities Laws) 2026–27 (Batch VI) via the registration link https://apply.nism.ac.in/llm.
Applicants for admission to the programme will be shortlisting for interview on the basis of their scores in NISM Aptitude Test 2026 entrance examinations:

Educational Qualifications

Entrance Test Score

Eligibility Criteria:

Candidate must satisfy the following criteria to apply for the programme:
LLB Degree or an equivalent examination with a minimum of 50% of marks of minimum 3 years’ duration and obtained at least 50% marks.

Eligibility for Industry/institutions sponsored Candidates:

The candidates who are working with the Regulators (SEBI, RBI, PFRDA, IRDA, IBBI, CCI, etc.), Market Infrastructure Institutions (NSE, BSE, MCX, NSDL, CDSL etc.), Banks and Financial Institutions, Securities Market Intermediaries, Government Departments, Judiciary and Advocates for a period of three years and above are eligible to apply under this category. The other criteria regarding the eligibility for admission for the industry/institutions sponsored candidates will be the same as applicable to the other candidates.

The candidates are required to qualify NISM Aptitude Test 2026 exam conducted by NISM.

Stage III: : NISM Aptitude Test (NISM AT 2026)

(i) All the interested applicants will undergo NISM Aptitude Test AT 2026 that will examine the Constitutional Law, Jurisprudence, Law of Contract, Company Law and Current Affairs of the applicant.

(ii) NISM AT 2026 to be conducted on April 12, 2026 (Tentative) from 1130 Hrs to 1230 Hrs.

(iii)NISM Aptitude Test will comprise of following sections:

Section	Number of Questions	Time Duration for Each Section
Constitutional Law	20	120 minutes
Jurisprudence	20
Law of Contract	20
Company Law	40
Current Affairs	20

Note: Each question will carry 1 marks. There will be no negative marking. All the questions will be multiple-choice questions.

(iv) Test Location: Online Test (Remote Proctored) can be attempted by candidates from their own location.

(v) For the candidates in the All India (including Maharashtra) category, based on the performance in the online test, top 150 candidates will qualify for the interview.

(vi) For Industry/ Institutions sponsored candidates, based on the performance in the online test top 60 candidates will qualify for the interview.

(vii)For the students under Foreign national/NRI/NRI Sponsored category, based on the performance in the online test, top 20 candidates will qualify for the interview.

Stage IV: Online Personal Interview (PI)

(I) Shortlisted candidates from Stage-III will appear in Stage-IV i.e Online Personal Interview.

(ii) All shortlisted candidates will be informed by Email or download their call letters to appear in the Online Personal Interview. All the required details like date, time and other guidelines will be mentioned in the call letter.

(iii) Eligible candidates will receive an Email for the Online Personal Interview process for LLM (I&SL) Admissions 2026-27 (Batch VI).

Stage V: Final Selection List Based on Entrance Score, Online Personal Interview & Diversity Scores

(I) The offer of admission to the candidate will be made strictly on the basis of merit/ rank list and availability of seats.

(ii) The Merit List will be generated based on the valid composite score of Entrance score 2026, Online Personal Interview, Past Academics and Diversity. The merit list for the admissions is prepared as per the weightage given below:

(iii) The Merit List will be generated based on the valid composite score of Entrance score 2026, Online Personal Interview, Past Academics and Diversity. The merit list for the admissions is prepared as per the weightage given below:

Section	Weightage (%)
NISM AT 2026	50
Personal Interview (PI)	30
Past Academics (Xth/SSC) or Equivalent Examination	5
Past Academics (XII/HSC) or Equivalent Examination	5
Past Academics (LLB)	5
Diversity	5
Total	100

*If the last semester/year results are not declared or available, aggregate marks of previous semesters will be considered for the composite score.

Stage VI: Provisional Admission to LLM (I&SL) 2026-27 (Batch VI).

(I) All the selected candidates will receive a provisional offer letter for admission from [email protected] on their registered email ID shortly after the declaration of the merit list. A candidate receiving an admission offer from NISM and accepting the offer within the stipulated date needs to deposit Rs.2,77,000/- as the OAA i.e. Offer Acceptance Amount (or as mentioned in the Offer Letter).

(ii) An automated receipt and a text message of the transaction will be shared by the associated bank on the registered email id/ mobile no. of the candidate.

(iii) On acceptance of the admission offer and payment of Offer Acceptance Amount, the candidate will receive his/her confirmation letter for provisional admission to LLM (I&SL) 2026-27 (Batch VI) on his/her registered email ID. The paid OAA will be adjusted with the First Year Programme Fee. If a candidate fails to pay the 1st instalment of First Year Programme Fees by the stipulated date mentioned in the admission confirmation letter, the seat will be cancelled.

(iv)The fee structure including Hostel and Dining Charges, for LLM (I&SL) 2026–27 (Batch VI) is provided below:

LL.M. (I&SL) 2026–27 Fee Structure

Sr. No	Particulars	1^st Installment Amount (₹)	2^nd Installment Amount (₹)	Total (₹)
A	Admission Fees	3,000	–	3,000
B	Tuition Fees All India Students (including Maharashtra students) & Industry / institutions sponsored candidates	66,000	66,000	1,32,000
C	Other charges
	Library, book and study material	15,000	–	15,000
	Journal fee	6,000	–	6,000
	Development fee	10,000	–	10,000
	Internet / IT facilities & Simulation Lab fee	10,000	10,000	20,000
	Outsourced services	10,000	10,000	20,000
	Student welfare	10,000	–	10,000
	Examination fees	10,000	10,000	20,000
	Alumni Association Fund	2,000	–	2,000
	Total C	73,000	30,000	1,03,000
D	Refundable Deposits
	Library caution money	10,000	–	10,000
	Hostel and Dinning Fee	10,000	–	10,000
	Total D	20,000	–	20,000
E	Hostel Fee
	AC Accommodation (Single Occupancy)#	78,250	78,250	1,56,500
	Dining Charges	35,000	35,000	70,000
	5% GST on Dining Charges	1,750	1,750	3,500
	Total E	1,15,000	1,15,000	2,30,000
F	Grand Total	2,77,000	2,11,000	4,88,000
	To be paid before	Within 10 days of Offer letter	November 01, 2026

#AC Accommodation on a single occupancy basis. Centralized AC will be available between 09:00pm to 06:00am only Students admitted under Industry/institutions sponsored category are not eligible for placement/ internship assistance.

(v) Candidates admitted under the Foreign National / NRI / NRI-Sponsored Category are required to pay an additional amount equivalent to USD 10,000 (in INR) over and above the fee mentioned in Table A.

Stage VII – Reporting for joining the LLM (I&SL) 2026-27 (Batch-VI)

(i) Final selected candidates who have deposited the Offer Acceptance Amount and received a confirmation letter for provisional admission will be required to report physically (on the stipulated date and time) at the Institute campus for registration, followed by physical verification of educational documents and other testimonials as per the checklist shared at a later stage.

(ii) The academic session will tentatively begin from July 20, 2026.

(iii) A single air-conditioned hostel room is allotted to the candidate. Hostel rooms for the Differently Abled Person candidates will be arranged on the ground floor of first floor (preferably).

(iv) The Hostel and Dining charges mentioned above are applicable for an Academic Year 2026-27. The period of internship (if any) is not included. In case a student wishes to stay in the campus during the internship period, he/she has to bear additional charges for the same. However, during such period, where the room has been vacated, the student will be allowed to keep their belongings in the locked condition in the room(s) earmarked for the purpose.

(v) Academic year would be the period beginning on the date of commencement of the program and ending on the date of completion of Trimester III or any date decided by the Institute.

Note:

(i) Comfortable hostel accommodation, separate for boys and girls, is available on the campus.

(ii) Hostel fees (accommodation and dining charges), once paid by a student, will not be refunded under any circumstances.

(iii)The hostels are well equipped with modern amenities and are managed by caring and experienced wardens.

(iv) NISM Mess and Cafeteria: A spacious, well-lit, and well-ventilated cafeteria on the campus serves nutritious and healthy food to students. A variety of dishes that are both healthy and tasty are prepared by a team of professional dieticians to ensure a well-balanced diet.

(v) NISM Recreational Facilities: NISM has a world class sports complex and extensive sports facilities. NISM offers Sample opportunities to students for a regular work-out and lifestyle management by providing a host of excellent sports facilities. It has facilities for games like cricket, basketball and volleyball as well as indoor games like chess, carom, table-tennis, badminton, etc. A Gymnasium and a swimming pool is also available for students to enhance their fitness levels.

(vi) Medical Facilities: NISM provides student safety insurance and basic medical facilities within the campus. An on-call ambulance service is available in case of emergencies.

(vii) Limited laundry facilities are available on a paid basis on the campus.

NISM Mumbai Campus Facilities

Hostel Facilities

National Institute of Securities Markets offers comfortable on-campus hostel accommodation with separate facilities for male and female students. The hostels are well-maintained, equipped with modern amenities, and supervised by caring and experienced wardens to ensure a safe and supportive living environment.

Dining Services

Mess & Cafeteria:
The campus features a spacious, well-lit, and well-ventilated cafeteria that serves a variety of nutritious and delicious meals. The menu is curated by professional dieticians to ensure a balanced and wholesome diet for the students.

Sports & Recreation

World-Class Sports Complex:

NISM provides extensive sports and recreational facilities to promote physical fitness and overall well-being. Facilities include:

Outdoor sports: Cricket, basketball, volleyball
Indoor games: Chess, carrom, table tennis, badminton
Gymnasium and swimming pool for fitness and relaxation

Students are encouraged to make use of these resources for regular workouts and healthy lifestyle practices.

Healthcare Facilities

Basic medical services are available on campus, along with ambulance support for emergencies, ensuring timely healthcare assistance for students.

Laundry Services

Limited laundry facilities are available on campus for students, provided on a paid basis.

Hostel Fee Structure (Twin Sharing, Non-AC)

(AC provided during March–May months)

Particulars	1st Installment	2nd Installment	3rd Installment	4th Installment
Hostel Charges	₹42,000	₹42,000	₹42,000	₹42,000
Food Charges	₹31,500	₹31,500	₹31,500	₹31,500
GST on Food (5%)	₹1,575	₹1,575	₹1,575	₹1,575
Total Hostel & Mess Fee (A)	₹75,075	₹75,075	₹75,075	₹75,075
Refundable Hostel Deposit (B)	₹10,000	–	–	–
Total Payable (A + B)	₹85,075	₹75,075	₹75,075	₹75,075

Payment Schedule:

1st Installment: Within 7 days of receiving the offer letter
2nd Installment: November 01, 2025
3rd Installment: June 15, 2026
4th Installment: November 01, 2026

Note: The hostel fees listed apply to Twin Sharing Non-AC accommodation. Air-conditioning is available during the months of March, April, and May.

Frequently Asked Questions of NISM Mumbai

PGDM(SM) Admission 2026–28 (Batch-VIII)

Q1. What is NISM PGDM(SM) Program?

A1. Post Graduate Diploma in Management (Securities Markets), a Two-Year AICTE Approved Full-Time program by NISM focusing on the securities markets.

Q2. What are the Academic Eligibility Criteria for the PGDM(SM)?

A2. Interested applicants who fulfil the below-mentioned eligibility criteria are required to register for the PGDM- SM 2026-28 (Batch-VIII).

Applicants must hold Bachelor’s Degree of minimum 3 years’ duration and obtained at least 50% marks.
Applicants in the last year of their Bachelor’s Degree program and awaiting their final results can also apply. However, their admission will be considered as provisional and is subject to fulfilling the above- mentioned eligibility criteria within the specified timeframe.
Candidates are required to qualify in any of four All India Common Admission Tests i.e. CAT 2025, XAT 2026, CMAT 2026 and MAT 2025/2026.

Q3. Those who are in last year and are waiting for final results, can they apply?

A3. Yes! Admission will be provisional till graduation marks are submitted.

Q4. Who should apply for PGDM(SM)?

A4. The program is ideal for students pursuing graduation in Economics, Commerce, Finance, Engineering, or Management aspiring for a career in capital markets.

Q5. What is the Selection Process of NISM for PGDM(SM)?

A5. The offer of admission to the candidate will be made strictly on the basis of merit/ rank list. The Merit List will be generated based on the valid composite score of Entrance Score, Online Personal Interview (PI), Past Academics and Gender Diversity. The merit list for the admissions is prepared as per the weightage given below:

Component	Weightage (%)
Competitive Exam Score (CAT 2025, XAT 2025, CMAT 2025, MAT 2025/26)	50
Personal Interview (PI)	30
Past Academics (X^th / SSC) or Equivalent Examination	5
Past Academics (XII / HSC) or Equivalent Examination	5
Past Academics (Graduation)	5
Profile (Academic Diversity and Gender Diversity)	5
Total	100

Q6. How many seats are available in the PGDM(SM)?

A6. There are 180* seats in the PGDM (SM) program.

Q7. Is distance learning or online available for PGDM(SM)?

A7. No! The program is not offered in distance or online mode.

Q8. How can I apply?

A8. Register online at https://apply.nism.ac.in/pgdm

New Registration: Receive User-ID and Password via email/SMS.
Login and complete application with Rs.1,000/- (Rupees One Thousand Only) Fee Payment via Debit/Credit Card, Net banking, or UPI

Q9. What leads most students to choose this college?

A9:

Expert faculty with securities market knowledge
Strong infrastructure
Established by SEBI
Simulation lab for stock trading
Blend of faculty from academia, industry, and regulators
Regular industry interaction

Q10. May I visit the campus? If so, when?

A10. Yes, visits can be scheduled from Monday to Friday between 1000 Hrs and 1600 Hrs.
Kindly email [email protected] to schedule an appointment. Campus details are available on the NISM website.

Q11. What certifcations are covered in the PGDM(SM) program?

A11. The program includes embedded NISM certifications:

Embedded NISM Certifications
S. No.	Name of Certificate	Trimester
1	NISM Series VII: Securities Operations and Risk Management Certification Examination	I
2	NISM Series V A: Mutual Fund Distributors Certification Examination	II
3	NISM Series-VIII: Equity Derivatives Certification Examination	III
4	NISM Series-XV: Research Analyst Certification Examination	IV
5	NISM Series-IX: Merchant Banking Certification Examination	V
6	NISM Series-X-A: Investment Adviser (Level 1) Certification Examination	VI
7	Bloomberg BMC Certificate	VI

Q12. What is the estimated cost for two year PGDM(SM) at NISM?

A12. The estimated cost for two year programme is given below:

Program fee: Rs. 6,78,800/- (Rupees Six Lakh Seventy-Eight Thousand Eight Hundred Only).
Accommodation and Dining Fee: Rs. 3,85,000/- (Rupees Three Lakh Eighty-Five Thousand Only).
Fee payable in Four Installments.

Q13. What are some options for financing my PGDM(SM) education?

A13. NISM is enlisted on Vidya Lakshmi Portal for education loan applications.

Q14. Where do PGDM(SM) students get placed?

A14. Placement profiles include: Treasury, Advisory, Merchant Banking, Compliance, Corporate Banking, etc. Recruiters include Banks, Stock Exchanges, Depositories, Mutual Funds, etc.

Q15. Name of the Past recruiters?

A15. ICICI Bank, SBI MF, STCI, BSE Ltd., Federal Bank, Axis Trustees, IFA Global, IDBI Bank, NSDL, and more.

Q16. What is the placed Student CTC?

A16:

Average: Rs.9.07 LPA
Maximum: Rs.16.32 LPA (based on performance)

Q17. What are the key dates for admission?

A17:

Online Application Open: December 20, 2025
Last Date for Submission of Online Application: March 23, 2026
Date of Online Personal Interviews (PI): Tentatively from May 04-13, 2026
Academic Session Begins: July 13, 2026

LLM (Investment and Securities Laws) - Admission 2026–27 (Batch-VI)

FAQ (Frequently Asked Questions)

Q1. What are the unique features of the LL.M. Program in Investment and Securities Laws by NISM & MNLU?

A1. This specialized one-year LL.M. is jointly offered by NISM (an initiative of SEBI) and Maharashtra National Law University, Mumbai. It blends legal education with deep industry insights, offering hands-on exposure through simulation labs, case-based learning, and guest lectures by top advocates and regulators. The interdisciplinary curriculum is designed for those aiming to lead in the financial and legal sectors, with strong emphasis on securities laws, compliance, and regulatory frameworks.

Q2. What are the Academic Eligibility Criteria for the LL.M. program?

A2. Applicants must hold an LL.B. or equivalent degree with at least 50% marks. Candidates awaiting results may apply provisionally, but must meet eligibility criteria by the specified cut-off.

For industry-sponsored applicants: A minimum of three years’ work experience with regulators, financial institutions, legal firms, or market infrastructure bodies is also required.

Q3. Is this entrance examination separate from the CLAT examination conducted by NLU for admission to the regular LL.M. Program?

A3. Yes, this program has a separate application and selection process including an online entrance test and an online personal interview. CLAT scores are not considered.

Q4. Those who are in last year and waiting for final results, can they apply?

A4. Yes, final-year LL.B. students or those awaiting results can apply. Admission will be provisional until final mark sheets are submitted and eligibility confirmed by the deadline.

Q5. Who should participate in the LL.M. Programme?

A5. The program is ideal for LL.B. (3-year or 5-year) graduates, legal professionals, practicing advocates, and industry professionals aiming to specialize in securities and investment laws.

Q6. What is the syllabus of the entrance exam for the LL.M. Program?

A6. The online test comprises questions from the following subjects:

Constitutional Law
Jurisprudence
Law of Contract
Company Law
Current Affairs

Q7. Is the LL.M. degree recognized for higher studies and government jobs?

A7. Yes. The degree is awarded by MNLU Mumbai, a recognized public university, and is valid for further studies and public sector employment.

Q8. Will there be separate classes for industry-sponsored candidates?

A8. No. All students attend the same sessions. However, industry-sponsored candidates are not required to reside on campus.

Q9. What is the selection process for the LL.M. program?

A9. Admission is based on an online test followed by an online personal interview. Final selection is determined by interview performance.

Q10. Is distance learning available for this LL.M. program?

A10. No. This is a full-time, intensive residential program, designed for immersive learning.

Q11. Is there any upper age limit for the program?

A11. No, there is no upper age limit for applying.

Q12. How can I apply?

A12. Apply online at https://apply.nism.ac.in/llm.
Register, log in, complete the form, and pay the Rs. 1000/- (Rupees One Thousand Only) application fee online.

Q13. What is the Application Form fee?

A13. You can pay Rs. 1000/- (Rupees One Thousand Only) online via Debit Card, Credit Card, or Net Banking.

Q14. What is the fee for the LL.M. program?

A14. The total fee (including Tuition, Accommodation and Dining Fee) is detailed in the Admission Brochure. For Indian students, the approximate total is Rs. 4,88,000/- (Four Lakh Eighty Eight Thousand Only).

Q15. What are the options for financing my LL.M. education?

A15. The various options is mentioned below:

Vidya Lakshmi Portal: Enables application to multiple banks via a single portal. Visit the following link to apply for education loan. www.vidyalakshmi.co.in/Students/
SBI Education Loan: NISM provides support and reference letters for SBI loan processing.

Q16. Where Does LL.M. in Investment and Securities Laws lead to?

A16. NISM, being an institution established by the Securities market regulator (SEBI), has better connect with the industry. This facilitates remarkable placement prospects for the participants of its academic programs. Further, MNLU, Mumbai has very good placement records of its students. Depending upon the interest of the candidates, the participants may get placement opportunities in in the following fields.

Legal Professionals (Securities Markets): Market infrastructure Institutions (NSE, BSE, NSDL, CDSL, MCX e.t.c), Intermediary, Mutual fund, Alternate Investment Fund, SEBI
Legal Researcher: Equities, Debt Markets, Currency Markets, Commodity Markets
Legal Professionals (Banking): Banks, Financial institutions, Securitization companies, Recovery related work
Legal Professionals with other regulators like RBI, CCI, PFRDA etc.
Corporate legal Advisory: Investment related legal advisory,

Investment related legal advisory, Insolvency Resolution and Restructuring, Valuation, Compliance, Due diligence, Risk Management, Debenture Trusteeship and Custodianship
Court Practice: Practice in the field of Investment and Securities laws

Q17. What are the campus placement opportunities after completing this LL.M. course?

A17. We provide placement assistance to the students and they are able to get good placements in the various Market Infrastructure institutions, Intermediaries, Banks, Financial institutions and other companies.

Some of the recruiters visiting our campus for the placements are as follows;

Banks: ICICI Bank, Karur Vyas Bank, Catholic Syrian bank, IDBI Bank, Ratnakar Bank Ltd., South Indian Bank, Indus bank etc.
Stock Exchanges: National Stock Exchange(NSE), Multi Commodity Exchange (MCX), National Commodity & Derivatives Exchange Limited (NCDEX), Indian Commodity Exchange (ICEX) etc.
Depository and Depository Participant: National Securities Depository Limited (NSDL), Central Depository Services Limited (CDSL), Stock Holding Corporation of India Limited (SHCIL) etc.
Mutual Funds: UTI Mutual Fund, SBI mutual Fund, Mahindra Mutual Fund, Aditya Birla Sun Life Mutual Fund etc.
Intermediaries: AK capital, AUM Capital, Funds India, Morning Star etc.

Being a leading institute of the securities market education in India, we are also connected with leading advocates and some of the top law firms in Mumbai. Some of them are part of our guiding team as mentioned in our prospectus. We take their help for the internships and placements.

Further, SEBI Guidelines mandate its registered intermediaries to have compliance officers. It provides a good opportunity for us to place our students with the intermediaries.

Due to the wide exposure of investment and securities laws related subjects in our LL.M. Course, the students will also have an edge while appearing in the entrance examination for legal position advertised by the various regulators, Banks and financial institutions.

Also, the Students will have the opportunity to sharpen their skills and practice in the specific field of Investment and Securities Laws. They can also start legal advisory services in the specialized fields of investment and securities laws.

Q18. May I visit the campus? If so, when?

A18. Yes, campus visits are welcome from Monday to Friday, 9:30 AM – 5:30 PM. Please email [email protected] to schedule your visit. Physical infrastructure of NISM Campus at Patalganga https://www.nism.ac.in/life-campus/

Q19. What subjects are covered in the LL.M. program?

A19. The curriculum includes:

Trimester I: Legal Research, Comparative Law, Global Justice, and Securities Market Fundamentals
Trimester II: Advanced Company Law, Securities Regulation, Competition Law and Policy.
Trimester III: Banking, Foreign Investment, Insolvency Law Includes a dissertation.

The students of LL.M. shall have to complete the following certifications during their course of study, as these certifications are part of the academic requirements of this program.

NISM-Series-VII: Securities Operations and Risk Management Certification Examination (to be completed during the First Trimester)
NISM-Series-VI: Depository Operations Certification Examination (to be completed during the First Trimester)
NISM-Series-V-B: Mutual Fund Foundation Certification Examination (to be completed during the Second Trimester)
NISM-Series-VIII: Equity Derivatives Certification Examination (to be completed during the Second Trimester)

Q20. Is the program eligible for government/trust scholarships?

A20. No, this is a self-financed program.

Q21. What are the key Dates for Admission?