Allocation and allotment

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..... l as non-institutional investors shall be on a proportionate basis. ] 3 [****] 4 [ (3) ] Any under-subscription in the non-institutional investor category shall be available for subscription under the institutional investors category. 5 [ (4) The issuer may allocate up to sixty per cent of the issue size on a discretionary basis, prior to the issue opening, to eligible investors .....

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..... follows: (a) seventy-five per cent to institutional investors: Provided that there shall be no separate allocation for anchor investors; (b) twenty-five per cent to non-institutional investors 3. Omitted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/08 dated 05-04-2019 before it was read as (3) The allotment to institutional investors may be on a discretionary or a proportionate b .....

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