106 B. (1) In this Chapter, unless the context otherwise requires, –

(a) “Main Board” means a recognized stock exchange having nationwide trading
terminals, other than SME exchange;

(b) “nominated investor” means a qualified institutional buyer or private equity fund,
who enters into an agreement with the merchant banker to subscribe to the issue in
case of under-subscription or to receive or deliver the specified securities in the market making process;
Explanation: “private equity fund” means a fund registered with any regulatory
authority or a fund established by any person registered with any regulatory authority;

(c) “SME exchange” means a trading platform of a recognised stock exchange having
nationwide trading terminals permitted by the Board to list the specified securities
issued in accordance with this Chapter and includes a stock exchange granted
recognition for this purpose but does not include the Main Board;

(2) All other words and expression used in this Chapter but not defined under subregulation (1) shall derive their meaning from regulation 2 of these regulations.

SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2011, w.e.f. 23.09.2011