Allocation to mutual funds within QIBs fixed; proportionate allotment and margin requirements updated for book-building issues. Amendments require that a specified portion of the allocation available to qualified institutional buyers be reserved for mutual funds and that allotment across QIBs be made on a proportionate basis, with an illustrative schedule demonstrating allocation mechanics. The lead book runner may reject QIB bids only at bid acceptance with written reasons disclosed to bidders and in the offer document. Brokers/syndicate members must collect a margin at application stage for QIB bids. References to issue-size are replaced with allocations based on the net offer to public.
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Provisions expressly mentioned in the judgment/order text.
Allocation to mutual funds within QIBs fixed; proportionate allotment and margin requirements updated for book-building issues.
Amendments require that a specified portion of the allocation available to qualified institutional buyers be reserved for mutual funds and that allotment across QIBs be made on a proportionate basis, with an illustrative schedule demonstrating allocation mechanics. The lead book runner may reject QIB bids only at bid acceptance with written reasons disclosed to bidders and in the offer document. Brokers/syndicate members must collect a margin at application stage for QIB bids. References to issue-size are replaced with allocations based on the net offer to public.
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