Allocation and allotment

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....nvestors shall be on a proportionate basis.] 3[****] 4[(3)] Any under-subscription in the non-institutional investor category shall be available for subscription under the institutional investors' category. 5[(4) The issuer may allocate up to sixty per cent of the issue size on a discretionary basis, prior to the issue opening, to eligible investors as identified under sub-regulation (1) of reg....

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....al investors: Provided that there shall be no separate allocation for anchor investors; (b) twenty-five per cent to non-institutional investors" 3. Omitted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/08 dated 05-04-2019 before it was read as "(3) The allotment to institutional investors may be on a discretionary or a proportionate basis whereas the allotment to non-institutional inve....