Regulation 91H - Minimum number of allottees - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

1 [Minimum number of allottees. 91H. (1) The minimum number of allottees for each offer of eligible securities made under institutional placement programme shall not be less than ten: Provided that no single allottee shall be allotted more than twenty five per cent. of the offer size. (2) The qualified institutional buyers belonging to the same group or who are under same control shall be deemed to be a single allottee. Explanation: For the purpose of sub-regulation (2), the expression qualified institutional buyers belonging to the same group shall have the same meaning as derived from sub-section (11) of section 372 of the Companies Act, 1956; ] ******** 1 Inserted by SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2012, w.e.f. 30.01.2012.