Securities And Exchange Board Of India - Subsection
Section 253(2) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(2)[ In an issue made other than through the book building process, the allocation in the net offer category shall be made as follows:(a)minimum fifty per cent. to retail individual investors; and(b)remaining to:(i)individual applicants other than retail individual investors; and(ii)other investors including corporate bodies or institutions, irrespective of the number of specified securities applied for;Provided that the unsubscribed portion in either of the categories specified in clauses (a) or (b) may be allocated to applicants in the other category.Explanation. - For the purpose of sub-regulation (2), if the retail individual investor category is entitled to more than fifty per cent. of the issue size on a proportionate basis, the retail individual investors shall be allocated that higher percentage.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/57, dated 31.12.2018 (w.e.f. 11.9.2018).]
