Securities And Exchange Board Of India - Subsection
Section 42(2) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(2)In case of an issue made other than through the book building process, the issuer may make reservation on competitive basis out of the issue size excluding promoters' contribution and net offer to public in favour of the following categories of persons:(a)employees of the issuer including employees of the promoting companies in case of a new issuer;(b)shareholders (other than promoters) of:(i)listed promoting companies, in the cast of a new issuer; and(ii)-listed group companies, in the case of an existing issuer:Provided that if the promoting companies are designated financial institutions or state and central financial institutions, the shareholders of such promoting companies shall not be eligible for the reservation on competitive basis.
