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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 47 mandates securities application limits; non-institutional investors restricted, minimum application size set, partial payment required.</h1> Regulation 47 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, outlines conditions for applications in securities offerings. Applicants cannot request more securities than those available to the public, with non-institutional investors limited to the total minus those for qualified institutional buyers. Issuers must specify a minimum application size between ten and fifteen thousand rupees. Applications should be in multiples of this value, and at least 25% of the issue price must be paid upon application, except in offers for sale where full payment is required upfront. The 'minimum application value' is based on the issue price.
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