(1) An entity seeking issue and listing of its specified securities shall file a draft offer document along with necessary documents with the Board in accordance with these regulations along with fees as specified in of these regulations.
(2) The minimum application size shall be ten lakh rupees.
(3) The number of allottees shall be more than two hundred.
(4) The allocation in the net offer to public category shall be as follows:
(a) seventy-five per cent to institutional investors:
Provided that there shall be no separate allocation for Anchor Investors;
(b) twenty-five per cent to non-institutional investors;
(5) Any under-subscription in the non-institutional investor category shall be available for
subscription under the institutional investors‘ category.
(6) The allotment to institutional investors may be on a discretionary basis whereas the allotment to non-institutional investors shall be on a proportionate basis.
(7) The mode of allotment to institutional investors, i.e., whether discretionary or proportionate, shall be disclosed prior to or at the time of filing of the Red Herring Prospectus.
(8) In case of discretionary allotment to institutional investors, no institutional investor shall be allotted more than ten per cent of the issue size.
(9) The offer document shall disclose the broad objects of the issue.
(10) The basis of issue price may include disclosures, except projections, as deemed fit by the issuers in order to enable investors to take informed decisions and the disclosures shall suitably caution the investors about basis of valuation.
SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2015, w.e.f. 14.08.2015
ICDR – SCHEDULE IV – FEES TO BE PAID ALONG WITH OFFER DOCUMENT
[See regulations 6(1), 10(2) and 11(4) and 91E(3)
(1) There shall be charged in respect of every draft offer document, every offer document (in case of a fast track issue) and in case of updation of any draft offer document, fees at the rate as specified in Part A and Part B of this Schedule.
(2) The fees shall be paid by way of direct credit in the bank account through NEFT/RTGS/IMPS or any other mode allowed by RBI or by means of a demand draft drawn in favour of ‘the Securities and Exchange Board of India‘ payable at the place where the draft offer document or offer document or updated draft offer document, as the case may be, is filed with the Board.
PART A
FEES TO BE PAID ALONG WITH DRAFT OFFER DOCUMENT OR IN CASE OF A FAST TRACK ISSUE, ALONG WITH OFFER DOCUMENT
(1) There shall be charged in respect of every draft offer document or in case of a fast track issue, every offer document filed by a lead merchant banker with the Board in terms of these regulations, a fee at the following rate:
(a) In case of a public issue:
| Size of the issue, including intended retention of over subscription | Amount / Rate of fees |
| Less than or equal to ten crore rupees. | A flat charge of one lakh rupees ( 1,00,000/-). |
| More than ten crore rupees, but less than or equal to five thousand crore rupees. | 0.1 per cent of the issue size. |
| More than five thousand crore rupees. | Five crore rupees ( 5,00,00,000/-) plus 0.025 percent of the portion of the issue size in excess of five thousand crore rupees ( 5000,00,00,000/-) |
(a) In case of a public issue:
oversubscription | |
(Rs.25,000/-). |
|
five thousand crore rupees. | |
or equal to twenty five thousand crore rupees. | (Rs.1,25,00,000/-) plus 0.00625 per cent of the portion of the issue size in excess of five thousand crore rupees (Rs.5000,00,00,000/-) |
(Rs.3,00,00,000/-). |
(b) In case of a rights issue:
| Size of the issue, including intended retention of over subscription | Amount / Rate of fees |
| Less than or equal to ten crore rupees. | A flat charge of fifty thousand rupees (50,000/-). |
| More than ten crore rupees | 0.05 per cent. of the issue size. |
(b) In case of a rights issue:
oversubscription | |
(Rs.25,000/-). |
|
five hundred crore rupees. | 0.005 per cent. of the issue size in excess of ten crore rupees. |
(c) In case of listing without public issue:
| Paid up capital of the entity | Amount / Rate of fees |
| Less than or equal to ten crore rupees. | A flat charge of one lakh rupees ( 1,00,000/-). |
| More than ten crore rupees, but less than or equal to five thousand crore rupees. | 0.1 per cent of the paid up capital |
| More than five thousand crore rupees. | Five crore rupees (5,00,00,000/-) plus 0.025 percent of the portion of the paid up capital in excess of five thousand crore rupees (5000,00,00,000/-). |
(2) Where the issue size is not determined at the time of submission of the draft offer document or the offer document (in case of a fast track issue), the issuer shall pay fees mentioned at para (1), based on the estimated issue size.
(3) If the issue size estimated by the issuer differs from eventual issue size and thereby:–
(a) the fees paid by the issuer is found to be deficient, the balance fee shall be paid by the issuer within seven days of registering the prospectus with the Registrar of Companies or filing the letter of offer with the recognised stock exchanges, as the case may be; and
(b) if any excess fee is found to have been paid, it shall be refunded by the Board to the
issuer.
PART B
FEES TO BE PAID ALONG WITH UPDATED OFFER DOCUMENT
Where updations or changes are made in any of the sections specified in Para 3 of Schedule VII of these regulations, there shall be charged a fee of ten thousand rupees (Rs.10,000/-) for updations or changes per section, subject to total fee not exceeding one fourth (1/4th) of the filing fees paid at the time of filing the draft document with the Board or rupees fifty thousand, whichever is higher.