Securities And Exchange Board Of India - Subsection
Section 32(4) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(4)In an issue made other than through the book building process, the allocation in the net offer category shall be made as follows:(i)minimum fifty per cent. to retail individual investors; and(ii)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 (4), 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.
