(1)
The issuer may make reservations on a competitive basis out of the issue size excluding promoters' contribution in favour of the following categories of persons:
(2)
In a further public offer, other than in a composite issue, the issuer may make a reservation on a competitive basis out of the issue size excluding promoters' contribution r for the existing retail individual shareholders of the issuer
(3)
The reservations on competitive basis shall be subject to following conditions:
(4)
An applicant in any reserved category may make an application for any number of specified securities, but not exceeding the reserved portion for that category.