Securities And Exchange Board Of India - Subsection
Section 43(2) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(2)In an issue made through the book building process, the allocation in the net offer to public category shall be made as follows:(a)not less than thirty five per cent. to retail individual investors;(b)not less than fifteen per cent. to non-institutional investors;(c)not more than fifty per cent. to qualified institutional buyers, five per cent. of which shall be allocated to mutual funds:Provided that in case of an issue made in terms of sub-clause (i) of clause (a) of sub-regulation (2) of regulation 26, at least fifty per cent. of the net offer to public shall be allotted to qualified institutional buyers:Provided further that where the issuer is required to allocate sixty per cent. of the net offer to public to qualified institutional buyers in terms of the provisions of sub-clause (b) of clause (2) of rule 19 of Securities Contracts (Regulations) Rules, 1957, allocation to retail individual investors and non-institutional investors shall be thirty per cent. and ten per cent. respectively:Provided further that in addition to five per cent. allocation available in terms of clause (c), mutual funds shall be eligible for allocation under the balance available for qualified institutional buyers.
