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 Rs.2 – 10 lakh?Solution
For book-built issues opening on or after April 1, 2022, ·      one-third of the portion available to NIIs will be reserved for applicants with an application size of more than Rs 2 lakh and up to Rs 10 lakh. ·      two-thirds of the portion available to NIIs will be reserved for applicants with an application size of more than Rs 10 lakh. Allotment of securities in the case of NII category will be on 'draw of lots', as is currently applicable for the retail investor category.
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