Section 29 in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
29. Differential pricing.
- An issuer may offer specified securities at different prices, subject to the following:(a)retail individual investors or retail individual shareholders may be offered specified securities at a price lower than the price at which net offer is made to other categories of applicants: Provided that such difference shall not be more than ten per cent. of the price at which specified securities are offered to other categories of applicants;(b)in case of a book built issue, the price of the specified securities offered to an anchor investor shall not be lower than the price offered to other applicants;(c)in case of a composite issue, the price of the specified securities offered in the public issue may be different from the price offered in rights issue and justification for such price difference shall be given in the offer document.
