National Institute of Securities Markets (NISM), Mumbai Admission Process

Important Dates – LLM (Investment and Securities Laws) 2026–27

Note:

• These dates are tentative and may vary based on final-year results and administrative requirements.

• The Institute/University reserves the right to modify the programme structure, admission process, or fee details as deemed necessary.

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:

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:

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 NISM 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.

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

(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:

(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:

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.

(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).

(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:

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

(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:

#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.

(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.