Securities And Exchange Board Of India - Subsection
Section 130(3)(c) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(c)no further application for subscription in the net offer can be made by persons (except an employee and retail individual shareholder of the listed issuer and retail individual shareholders of listed subsidiaries of listed promoter companies) in favour of whom reservation on a competitive basis is made;