Minimum application value governs public offer bids, requiring prescribed application multiples and a mandated initial payment at application. Regulation 143 restricts applicants in the net offer from applying for more securities than the public offer size and limits non-institutional investor applications to the public portion remaining after allocations to qualified institutional buyers. Issuers must state a minimum application size corresponding to a minimum application value between ten thousand and fifteen thousand rupees, require applications in multiples of that minimum, and demand at least twenty-five percent of the issue price payable on application except in offers for sale where the full price is payable. The minimum application value references the issue price, not the amount payable on application.
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Provisions expressly mentioned in the judgment/order text.
Minimum application value governs public offer bids, requiring prescribed application multiples and a mandated initial payment at application.
Regulation 143 restricts applicants in the net offer from applying for more securities than the public offer size and limits non-institutional investor applications to the public portion remaining after allocations to qualified institutional buyers. Issuers must state a minimum application size corresponding to a minimum application value between ten thousand and fifteen thousand rupees, require applications in multiples of that minimum, and demand at least twenty-five percent of the issue price payable on application except in offers for sale where the full price is payable. The minimum application value references the issue price, not the amount payable on application.
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