Differential pricing: issuers may offer securities at varying prices subject to capped discounts for retail and employee allocations. Issuers may adopt differential pricing for specified securities: retail investors and reserved category employees may be offered securities at prices not lower by more than ten per cent. of the net offer price to other applicants (excluding anchor investors); anchor investor allocations in a book built issue must not be priced below other applicants; under the alternate book building method employees may be offered securities not lower by more than ten per cent. of the floor price. Any discount must be disclosed in rupee terms in the offer document.