Securities And Exchange Board Of India - Subsection
Section 47(4) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(4)The minimum sum payable on application per specified security shall be at least twenty five per cent. of the issue price:Provided that in case of an offer for sale, the full issue price for each specified security shall be payable 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.
