Question
SEBI has divided the Non-institutional Investors (NII)
category into two based on the application size for book-built IPOs. What proportion of NIIs has been reserved for application size of more than 10 lakh?Solution
As the number of smaller NIIs continues to grow, SEBI proposed a sub-categorization of NIIs into two categories. In the first sub-category, one-third of the allocation allocated to NIIs will be intended for application sizes between more than Rs 2 lakh and Rs 10 lakh. For the second sub-category, Committee proposed that two-thirds of the allocation reserved for NIIs be intended for requests exceeding Rs 10 lakh
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