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<h1>Issuers can retain oversubscription up to 100% of base issue size, subject to SEBI conditions and authorization.</h1> Issuers in a public issue and listing of debt securities can retain oversubscription up to 100% of the base issue size or a lower limit specified in the prospectus, subject to corporate authorization, credit rating, and other conditions set by the Securities and Exchange Board of India. For issuers with a shelf prospectus, oversubscription retention is allowed up to the rated size specified therein. For issuers of tax-free bonds without a shelf prospectus, the retention limit is determined by the authorization from the Central Board of Direct Taxes or a lower limit specified in the offer document.