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of <h1>SEBI Regulation 33: Issuers Can Reserve Capital for Employees, Shareholders; Limits on Allotments and Reallocation Rules Explained</h1> Regulation 33 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, allows issuers to reserve a portion of their issue size on a competitive basis for employees and shareholders, excluding promoters. Employee reservations cannot exceed 5% of post-issue capital, with individual allotments capped at two lakhs rupees, extendable to five lakhs in case of under-subscription. Shareholder reservations are limited to 10% of the issue size. Unsubscribed portions can be reallocated within reserved categories or to the net offer category. Applicants in reserved categories can apply for securities up to their reserved limit.
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