Section 12 in Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008
12. Minimum subscription.
(1)The issuer may decide the amount of minimum subscription which it seeks to raise by issue of debt securities and disclose the same in the offer document.(2)In the event of non receipt of minimum subscription all application moneys received in the public issue shall be refunded forthwith to the applicants.
