Securities And Exchange Board Of India - Subsection
Section 49(3) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(3)The minimum sum payable on application shall not be less than twenty five per cent. of the issue price:Provided that in case of an offer for sale, the issue price payable for each specified security shall be brought in at the time of application.Explanation. - For the purpose of this regulation, "minimum application value" shall be with reference to the issue price of the specified securities and not, with reference to the amount payable on application.
