Section 49 in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
49. Minimum application value.
(1)The issuer shall stipulate in the offer document, the minimum application size in terms of number of specified securities which shall fall within the range of minimum application value of five thousand rupees to seven thousand rupees.(2)The issuer shall invite applications in multiples of the minimum application value, an illustration whereof is given in Schedule XIV.(3)The minimum sum payable on application shall not be less than twenty five per cent. of the issue price:Provided that in case of an offer for sale, the issue price payable for each specified security shall be brought in at the time of application.Explanation. - For the purpose of this regulation, "minimum application value" shall be with reference to the issue price of the specified securities and not, with reference to the amount payable on application.
