Allocation in net offer to public prescribes mandatory category splits among retail, non institutional, institutional investors and anchor allocations. Regulation 43 sets category wise allocations in the net offer to public: under book building it prescribes specified minimum and maximum shares for retail, non institutional and qualified institutional buyers, with a mutual fund carve out and eligibility for the institutional balance; it permits allocation of a substantial portion of the institutional allotment to anchor investors per Schedule XI. For non book building issues it mandates a minimum retail allocation, allocates the remainder among other individual and institutional applicants, and allows reallocation of unsubscribed portions, with a pro rata rule favoring retail investors when due.