TaxTMI 
TaxTMI 
Book building process [See regulation 28(2), 30(1)(c), 32(2), 126(2), 128(1)(d), 129(3), 188(2), 190(1)(b), 250(2), 252(1)(c) and 291(4)]
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....onsibilities of each shall be delineated in the inter-se allocation of responsibility as specified in Schedule I. (c) Co-ordination of various activities may be allocated to more than one lead manager. (2) Syndicate Member(s) The issuer may appoint syndicate member(s). (3) Underwriting (a) The lead manager(s) shall compulsorily underwrite the issue and the syndicate member(s) shall sub-underwrite with the lead manager(s). (b) The lead manager(s) / syndicate member(s) shall enter into underwriting/ sub underwriting agreement on a date prior to filing of the prospectus ^10[or the red herring prospectus, as the case may be]. (c) The details of the final underwriting arrangement indicating actual numbers of shares underwritten shall be disclosed and printed in the prospectus ^11[or the red herring prospectus, as the case may be] before it is ^3[filed] with the Registrar of Companies. (d) In case of an under-subscription in an issue, the shortfall shall be made good by the lead manager(s) and the same shall be incorporated in the inter-se allocation of responsibility as specified in Schedule I. (4) Agreement with the stock exchang....
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....plicable provisions of these regulations and the provisions of this clause, the issuer may mention the floor price or price band in the red herring prospectus. (a) where the issuer opts not to make the disclosure of the price band or floor price in the red-herring prospectus, the following shall also be disclosed in the red-herring prospectus: (i) a statement that the floor price or price band, as the case may be, shall be disclosed at least two working days (in case of an initial public offer) and at least one working day (in case of a further public offer) before the opening of the issue; (ii) a statement that the investors may be guided by the secondary market prices (in case of a further public offer); (iii) names and editions of the newspapers where the announcement of the floor price or price band would be made; (iv) website addresses where the announcement is available. (b) where the issuer decides to opts for a price band instead of a floor price, the issuer shall also ensure compliance with the following conditions: (i) The cap of the price band should not be higher by more than 20 per cent. of the floor of the....
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.... sixty per cent. of the portion available for allocation to qualified institutional buyers shall be available for allocation/allotment ("anchor investor portion") to the anchor investor(s). c) Allocation to the anchor investors shall be on a discretionary basis, subject to the following: (I) In case of public issue on the main board, through the book building process: ^17[(i) minimum of 2 and maximum of 15 such investors shall be permitted for allocation up to two hundred fifty crore rupees, subject to minimum allotment of five crore rupees per such investor; (ii) in case of allocation above two hundred fifty crore rupees, a minimum of 5 such investors and a maximum of 15 such investors for allocation up to two hundred fifty crore rupees and an additional 15 such investors for every additional two hundred fifty crore rupees or part thereof, shall be permitted, subject to a minimum allotment of five crore rupees per such investor.] (II) In case of public issue on the SME exchange, through the book building process: (i) maximum of 2 such investors shall be permitted for allocation up to two crore rupees (ii) minimum of 2 ....
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....chor investors and the price at which the allocation is made, shall be made available to the stock exchange(s) by the lead manager(s) for dissemination on the website of the stock exchange(s) before opening of the issue. ^6[j) There shall be a lock-in of 90 days on fifty per cent of the shares allotted to the anchor investors from the date of allotment, and a lock-in of 30 days on the remaining fifty per cent of the shares allotted to the anchor investors from the date of allotment.] k) Neither the (i) lead manager(s) or any associate of the lead managers (other than mutual funds sponsored by entities which are associate of the lead managers or insurance companies promoted by entities which are associate of the lead managers or Alternate Investment Funds (AIFs) sponsored by the entities which are associate of the lead manager or ^1[a foreign portfolio investor other than individuals, corporate bodies and family offices] ^12[****] which are associate of the lead manager) ^13[or pension funds sponsored by entities which are associate of the lead manager] nor (ii) any person related to the promoter/promoter group/ shall apply under the Anchor Investors....
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....e transfer agent and depository participant shall accept applications supported by blocked amount. (f) The qualified institutional buyers shall place their bids only through the stock broker(s) who shall have the right to vet the bids; (g) At the end of each day of the bidding period, the demand, shall be shown graphically on the bidding terminals of the syndicate member(s) and websites of the stock exchanges for information of the public (details in relation to allocation made to anchor investors shall also be disclosed). (h) The retail individual investors may either withdraw or revise their bids until the closure of the issue. (i) The qualified institutional buyers and the non-institutional investors shall not be permitted to withdraw or lower the size of their bids at any stage of the issue. (m) The issuer may decide to close the bidding by the qualified institutional buyers one day prior to the closure of the issue, subject to the following conditions: (i) the bidding period shall be minimum of three days for all categories of applicants; (ii) necessary disclosures are made in the red herring prospectus regarding t....
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....n process shall be maintained by the lead manager and the registrar to the issue. (b) The lead manager(s) and other intermediaries associated in the book building process shall maintain records of the book building prices. (c) The Board shall have the right to inspect the records, books and documents relating to the book building process and such person shall extend full co-operation. (17) Applicability to Fast Track Issues Unless the context otherwise requires, in relation to the fast track issues, all references in this Schedule to 'draft prospectus' shall be deemed to have been made to the 'red herring prospectus'. Part B - Format of bid data displayed on stock exchange - BID DETAILS The total demand shall be aggregated by all the stock exchanges on an hourly basis and be displayed on their websites (1) Details of Allocation to the Anchor Investors S. No. Name of the Anchor Investor No. of securities available under the Anchor Investor portion Details of Allocation No. of securities No. of securities allocated as a percentage of securities under the Anchor Investor portion ....
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....IBs including Mutual Funds 38 crore equity shares 5 No. of QIB applicants 10 6 No. of shares applied for 500 crore equity shares * Where 50 per cent. of the issue size is required to be allotted to QIBs. (2) Details of QIB Bids S. No. Type of QIB bidders No. of equity shares bid for (in crores) 1 A1 50 2 A2 20 3 A3 130 4 A4 50 5 A5 50 6 MF1 40 7 MF2 40 8 MF3 80 9 MF4 20 10 MF5 20 TOTAL 500 A1-A5 : QIB bidders other than Mutual Funds MF1-MF5: QIB bidders which are Mutual Funds (3) Details of Allotment to QIB Bidders/Applicants (No. of equity shares in crores) Type of QIB bidders Equity shares bid for Allocation of 2 crore equity shares to Mutual Funds proportionately (See Note 2) Allocation of balance 38 crore equity shares to QIBs proportionately (See Note 4) Aggregate allocation to Mutual Funds A1 50 0 3.82 3.82 A2 20 0 1.53 1.53 A3 130 0 9.92 9.92 A4 50 0 3.82 3.82 A5 50 0 3.82 3.82 MF1 40 ....
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....r the qualified institutional buyers. (f) Allotment to the retail individual investors, non-institutional investors and reserved categories of the issuer shall be made on a proportionate basis as illustrated in this Schedule. (g) Where, however, the number of specified securities bid for at a price are more than the available quantity, the allotment shall be done on a proportionate basis. (h) Retail individual investors and non-institutional investors shall be allotted specified securities at the floor price. (i) Employees may be allotted specified securities at a price lower than the floor price; Provided that the difference between the floor price and the price at which the specified securities are offered to employees shall not be more than ten per cent. of the floor price. (j) The issuer may decide and disclose in the offer document: (i) to place a cap either in terms of number of specified securities or percentage of issued capital of the issuer that may be allotted to a single bidder; (ii) whether a bidder shall be allowed to revise the bid upwards or downwards in terms of price and/or quantity; ....