Differential pricing permits limited discounts for retail and employee allocations; discounts must be disclosed in rupee terms. Regulation 190 allows differential pricing for specified securities by permitting issuers to offer retail individual investors and employees discounts relative to other applicant categories (excluding anchor investors), with the definition of 'employee' limited to specified resident full time employees or directors of the issuer or consolidated group and excluding promoters and their immediate relatives; under alternate book building employees may be offered securities in relation to the floor price, and any discount must be disclosed in the offer document in rupee terms.