Regulation 192 - Allocation in the issue - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Allocation in the issue 192. (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.