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TMI BlogReservation on competitive basisX X X X Extracts X X X X X X X X Extracts X X X X ..... lders (other than promoters) of: (i) listed promoting companies, in case of a new issuer; and (ii) listed group companies, in case of an existing issuer: Provided that if the promoting companies are designated financial institutions or state and central financial institutions, the shareholders of such promoting companies shall not be eligible for the reservation on competitive basis; (c) persons who, as on the date of filing the draft offer document with the Board, are associated with the issuer as depositors, bondholders or subscribers to services of the issuer making an initial public offer: Provided that the issuer shall not make the reservation to the issue management team, syndicate members, their promoters, directors an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ost issue capital of the issuer]; (b) reservation for shareholders shall not exceed ten per cent. of the issue size; (c) reservation for persons who as on the date of filing the draft offer document with the Board, have business association as depositors, bondholders and subscribers to services with the issuer making an initial public offer shall not exceed five per cent. of the issue size; (d) no further application for subscription in the net offer to public category shall be entertained from any person (except an employee and retail individual shareholder) in favour of whom reservation on competitive basis is made; (e) any unsubscribed portion in any reserved category may be added to any other reserved category and the unsubs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ***** 1 Substituted by the SEBI (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2010, w.e.f. 13.04.2010. Prior to substitution, clause (a) read as under: (a) employees of the issuer including employees of the promoting companies in case of a new issuer; 2 Substituted by SEBI (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2010, w.e.f. 13.04.2010. Prior to substitution, clause (a) read as under: (a) employees of the issuer including employees of the promoting companies in case of a new issuer; 3 Substituted for the words ten per cent. of the issue size by SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2009 w.e.f. 11.12.2009. 4 In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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