[See regulation 49 (2)]
ILLUSTRATION EXPLAINING MINIMUM APPLICATION SIZE
For inviting applications in multiples of the minimum value as referred to in sub-regulation (2) of regulation 49, the procedure is clarified by following example:
Assuming an issue is being made at a price of Rs. 900 per equity share. In this case, the issuer in consultation with the lead merchant banker can determine the minimum application lot within the range of 12 – 16 equity shares (in value terms between Rs.10,000- Rs.15,000), as explained hereunder:
| Options | I | II | III | IV | V |
| Lot Size @ Rs.900/- per share | 12 shares | 13 shares | 14 shares | 15 shares | 16 shares |
| Application / Bid amount for 1 lots | 10800 | 11700 | 12600 | 13500 | 14400 |
| Application / Bid amount for 2 lots | 21600 | 23400 | 25200 | 27000 | 28800 |
| Application / Bid amount for 4 lots | 43200 | 46800 | 50400 | 54000 | 57600 |
| Application / Bid amount for 8 lots | 86400 | 93600 | 100800 | 108000 | 115200 |
| Application / Bid amount for 16 lots | 172800 | 187200 | -- | -- | -- |
| Application / Bid amount for 18 lots | 194400 | -- | -- | -- | -- |
The options given above are only illustrative and not exhaustive.