Section 192 in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
192. Allocation in the issue.
(1)The allocation in the issue shall be as follows:(a)at least fifty per cent. of the issue shall be allotted to qualified institutional buyers on proportionate basis as per illustration given in Part A of Schedule XIV;(b)the remaining portion of the issue may be allocated among the categories of non-institutional investors and retail individual investors including employees, at the discretion of the issuer and the manner of allocation shall be disclosed in the offer document. Allotment to investors within a category shall be on proportionate basis:Provided that at least thirty per cent. of the IDRs being offered in the public issue shall be available for allocation to retail individual investors and in case of under-subscription in retail individual investor category, spill over to other categories to the extent of under subscription may be permitted.(2)A person shall not make an application in the net offer category for a number of IDRs which exceeds the total number of IDRs offered to the public.
