Northern Arc Capital IPO: Detailed Analysis

Total Application : 2,165,516 (12.17 times)

https://www.northernarc.com/our-compass

General Information Document for Investing in Public Issues 1
GENERAL INFORMATION DOCUMENT
FOR INVESTING IN PUBLIC OFFERS
This General Information Document highlights certain key rules, processes and procedures applicable to the public Offer
in accordance with the provisions of the Companies Act, 2013 the Securities Contracts (Regulation) Act, 1956 (“SCRA”), the
Securities Contracts (Regulation) Rules, 1957 (“SCRR”), the Securities and Exchange Board of India (Issue of Capital and
Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”). Bidders/Applicants should not
construe the contents of this General Information Document as legal advice and should consult their own legal counsel and
other advisors in relation to the legal matters concerning the Offer. For taking an investment decision, the Bidders/Applicants
should rely on their own examination of the Issuer and the Offer, and should carefully read the Red Herring Prospectus/
Prospectus before investing in the Offer. The General Information Document has been updated to reflect various enactments
and regulations, to the extent applicable to a public issue, as on the date of the Red Herring Prospectus.
SEBI through its circular no. SEBI/HO/CFD/DIL2/CIR/P/2018/138 dated November 1, 2018, and as modified through its
circular SEBI/HO/CFD/DIL2/CIR/P/2019/50 dated April 3, 2019, and circular no. SEBI/HO/CFD/DCR2/CIR/P/2019/133
dated November 8, 2019 has proposed to introduce an alternate payment mechanism using Unified Payments Interface (“UPI”)
and consequent reduction in timelines for listing in a phased manner. From January 1, 2019, the UPI mechanism for RIIs
applying through Designated Intermediaries have been made effective along with the existing process and existing timeline of
T+6 days. The same was applicable until June 30, 2019 (“UPI Phase I”). With effect from July 1, 2019, SEBI vide its circular
no. SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated June 28, 2019, read with circular bearing number
SEBI/HO/CFD/DIL2/CIR/P/2019/85 dated July 26, 2019 with respect to Bids by RIBs through Designated Intermediaries (other
than SCSBs), the existing process of physical movement of forms from Designated Intermediaries to SCSBs for blocking of funds
has been discontinued and only the UPI Mechanism for such Bids with existing timeline of T+6 days was mandated for a period
of three months or launch of five main board public issues, whichever is later(“UPI Phase II”), with effect from July 1, 2019,
by SEBI circular (SEBI/HO/CFD/DIL2/CIR/P/2019/76) dated June 28, 2019, read with SEBI circular
(SEBI/HO/CFD/DIL2/CIR/P/2019/85) dated July 26, 2019. Subsequently, however, SEBI vide its circular no.
SEBI/HO/CFD/DIL2/CIR/P/2020/50 dated March 30, 2020 extended the timeline for implementation of UPI Phase II till further
notice. The final reduced timeline of T+3 days will be made effective using the UPI Mechanism for applications by UPI Bidders
(“UPI Phase III”), as may be prescribed by SEBI and SEBI circular no. SEBI/HO/CFD/TPD1/CIR/P/2023/140 dated August
9, 2023, as may be prescribed by SEBI. Further, SEBI vide its circular no. SEBI/HO/CFD/DIL2/CIR/P/2021/2480/1/M dated
March 16, 2021 (“UPI Streamlining Circular”) read with SEBI circular no. SEBI/HO/CFD/DIL1/CIR/P/2021/47 dated March
31, 2021, SEBI circular no. SEBI/HO/CFD/DIL2/P/CIR/2021/570 dated June 2, 2021 and SEBI Circular No:
SEBI/HO/CFD/DIL2/CIR/P/2022/51 dated April 20, 2022 has introduced certain additional measures for streamlining the
process of initial public issues and redressing investor grievances. This circular shall come into force for initial public issues
opening on or after May 1, 2021, except as amended pursuant to SEBI circular SEBI/HO/CFD/DIL2/P/CIR/2021/570 dated
June 2, 2021, and the provisions of this circular are deemed to form part of the Red Herring Prospectus. Additionally, SEBI
vide its circular no. SEBI/HO/CFD/DIL1/CIR/P/2021/47 dated March 31, 2021 has reduced the time period for refund of
application monies from 15 days to four days. Furthermore, pursuant to SEBI circular no.
SEBI/HO/CFD/DIL2/P/CIR/P/2022/45 dated April 5, 2022, all individual bidders in initial public offerings (opening on or after
May 1, 2022) whose application sizes are up to ₹5 lakhs shall use the UPI Mechanism.
Pursuant to SEBI circular no. SEBI/HO/CFD/DIL2/P/CIR/2022/75 dated May 30, 2022, applications made using the ASBA
facility in initial public offerings (opening on or after September 1, 2022) shall be processed only after application monies are
blocked in the bank accounts of investors (all categories).
Merchant Banker shall be the nodal entity for any issues arising out of public issuance process.
In terms of Regulation 23(5) and Regulation 52 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
as amended, the timelines and processes mentioned in SEBI Circular. No. SEBI/HO/CFD/DCR2/CIR/P/2019/133 dated
November 08, 2019 shall continue to form part of the agreements being signed between the intermediaries involved in the public
issuance process and lead manager shall continue to coordinate with intermediaries involved in the said process.
In case of (i) any delay in unblocking of amounts in the ASBA Accounts (including amounts blocked through the UPI Mechanism)
exceeding two Working Days from the Bid/Offer Closing Date for cancelled / withdrawn / deleted ASBA Forms, the Bidder shall
be compensated at a uniform rate of ₹100 per day or 15% per annum of the Bid Amount, whichever is higher from the date on
which the request for cancellation/ withdrawal/ deletion is placed in the Stock Exchanges bidding platform until the date on
which the amounts are unblocked (ii) any blocking of multiple amounts for the same ASBA Form (for amounts blocked through
the UPI Mechanism), the Bidder shall be compensated at a uniform rate ₹100 per day or 15% per annum of the total cumulative
2 General Information Document for Investing in Public Issues
blocked amount except the original application amount, whichever is higher from the date on which such multiple amounts were
blocked till the date of actual unblock; (iii) any blocking of amounts more than the Bid Amount, the Bidder shall be compensated
at a uniform rate of ₹100 per day or 15% per annum of the difference in amount, whichever is higher from the date on which
such excess amounts were blocked till the date of actual unblock; (iv) any delay in unblocking of non-allotted/partially allotted
Bids, exceeding two Working Days from the Bid/Offer Closing Date, the Bidder shall be compensated at a uniform rate of ₹100
per day or 15% per annum of the Bid Amount, whichever is higher for the entire duration of delay exceeding two Working Days
from the Bid/Offer Closing Date by the SCSB responsible for causing such delay in unblocking.
General Information Document for Investing in Public Issues 3
TABLE OF CONTENTS
SECTION 1: PURPOSE OF THE GENERAL INFORMATION DOCUMENT ……………………………………………………………. 4
SECTION 2: BRIEF INTRODUCTION TO IPOs/FPOs ……………………………………………………………………………………………. 5
SECTION 3: CATEGORY OF INVESTORS ELIGIBLE TO PARTICIPATE IN AN OFFER ………………………………………… 8
SECTION 4: APPLYING IN THE OFFER ……………………………………………………………………………………………………………….. 9
SECTION 5: OFFER PROCEDURE IN BOOK BUILT OFFER …………………………………………………………………………………. 28
SECTION 6: OFFER PROCEDURE IN FIXED PRICE OFFER …………………………………………………………………………………. 33
SECTION 7: ALLOTMENT PROCEDURE AND BASIS OF ALLOTMENT …………………………………………………………….. 34
SECTION 8: INTEREST AND REFUNDS ……………………………………………………………………………………………………………. 37
SECTION 9: GLOSSARY AND ABBREVATIONS ……………………………………………………………………………………………….. 40
4 General Information Document for Investing in Public Issues
This document is applicable to the public issues undertaken through the Book-Building Process as well as to the Fixed Price
Issues. The purpose of the “General Information Document for Investing in Public Issues” is to provide general guidance to
potential Bidders/Applicants in IPOs and FPOs, and on the processes and procedures governing IPOs and FPOs, undertaken in
accordance with the provisions of the SEBI ICDR Regulations.
Bidders/Applicants should note that investment in equity and equity related securities involves risk and Bidder/Applicant should
not invest any funds in the Offer unless they can afford to take the risk of losing their investment. The specific terms relating
to securities and/or for subscribing to securities in an Offer and the relevant information about the Issuer undertaking the
Offer are set out in the Red Herring Prospectus (“RHP”)/ Prospectus filed by the Issuer with the Registrar of Companies, NCT
Delhi at New Delhi. (“RoC”). Bidders/ Applicants should carefully read the entire RHP/Prospectus, the Bid cum Application
Form/Application Form and the Abridged Prospectus of the Issuer in which they are proposing to invest through the Offer. In
case of any difference in interpretation or conflict and/or overlap between the disclosure included in this document and
the RHP/Prospectus, the disclosures in the RHP/ Prospectus shall prevail. The RHP/Prospectus of the Issuer is available
on the websites of stock exchanges, on the website(s) of the BRLMs to the Offer and on the website of Securities and
Exchange Board of India (“SEBI”) at www.sebi.gov.in.
For the definitions of capitalized terms and abbreviations used herein Bidders/Applicants may refer to the section “Glossary
and Abbreviations”.
SECTION 1: PURPOSE OF THE GENERAL INFORMATION DOCUMENT (GID)
General Information Document for Investing in Public Issues 5
2.1 Initial public offer (IPO)
An IPO means an Offer of specified securities by an unlisted Issuer to the public for subscription and may include an
Offer for Sale of specified securities to the public by any existing holder of such securities in an unlisted Issuer.
2.2 Further public offer (FPO)
An FPO means an Offer of specified securities by a listed Issuer to the public for subscription and may include
Offer for Sale of specified securities to the public by any existing holder of such securities in a listed Issuer.
2.3 Other Eligibility Requirements:
An Issuer proposing to undertake an IPO or an FPO is required to comply with various other requirements as specified
in the SEBI ICDR Regulations, the SEBI LODR Regulations, the Companies Act, 2013 (to the extent notified and in
effect), the SCRR, industry-specific regulations, if any, and other applicable laws for the time being in force.
For details in relation to the above Bidders/Applicants may refer to the RHP/Prospectus.
2.4 Types of Public Offers – Fixed Price Offers and Book Built Offers
In accordance with the provisions of the SEBI ICDR Regulations, an Issuer can either determine the Offer Price
through the Book Building Process (“Book Built Offer”) or undertake a Fixed Price Offer (“Fixed Price Offer”).
The cap on the Price Band should be less than or equal to 120% of the Floor Price, provided that the Cap Price is
at least 105% of the Floor Price. The Issuer shall announce the Price or the Floor Price or the Price Band through
advertisement in all newspapers in which the pre-issue advertisement was given at least two Working Days before the
Bid/Offer Opening Date, in case of an IPO and at least one Working Day before the Bid/Offer Opening Date, in case
of an FPO and determine the Offer Price at a later date before registering the Prospectus with the Registrar
of Companies.
The Floor Price or the Offer Price cannot be lesser than the face value of the securities.
Bidders/Applicants should refer to the RHP/Prospectus or Offer advertisements to check whether the Offer is
a Book Built Offer or a Fixed Price Offer.
2.5 ISSUE PERIOD
The Offer shall be kept open for a minimum of three Working Days (for all categories of Bidders/Applicants)
and not more than ten Working Days. Bidders/Applicants are advised to refer to the Bid cum Application Form
and Abridged Prospectus or RHP/Prospectus for details of the Bid/Offer Period. Details of Bid/Offer Period are
also available on the website of the Stock Exchange(s).
In case of a Book Built Offer, the Issuer may close the Bid/Offer Period for QIBs one Working Day prior to the
Bid/ Offer Closing Date if disclosures to that effect are made in the RHP. In case of revision in the Price Band in Book
Built Offers the Bid/Offer Period may be extended by at least three Working Days, subject to the total Bid/Offer Period
not exceeding ten Working Days. For details of any revision of the Price Band, Bidders/Applicants may check
the announcements made by the Issuer on the websites of the Stock Exchanges and the BRLM, and the advertisement
in the newspaper(s) issued in this regard.
In case of force majeure, banking strike or similar circumstances, the Issuer may, for reasons to be recorded in writing,
extend the bidding (Offer) period for a minimum period of three working days, subject to the total Bid/ Offer
Period not exceeding 10 Working Days.
SECTION 2: BRIEF INTRODUCTION TO IPOs/FPOs
6 General Information Document for Investing in Public Issues
2.6 FLOWCHART OF TIMELINES
A flow chart of process flow in Fixed Price and Book Built Issues is as follows. Bidders/Applicants may note that
this is not applicable for Fast Track FPOs.:
Flow chart of timeline for Phase III
Indicative timeline of activities for listing of shares through Public Issues onT+3 day
Sequence of Activities Listing within T+3 days (T is Issue Closing Date)
Application Submission
Investors
by Electronic Applications (Online ASBA through 3-in-1 accounts) – Upto 5pm on
T day. Electronic Applications (Bank ASBA through Online channels like
Internet Banking, Mobile Banking and Syndicate UPI ASBA etc) –Upto 4 pm on
T day.
Electronic Applications (Syndicate Non-Retail, Non-Individual Applications) –Upto 3
pm on T day
Physical Applications (Bank ASBA) –Upto 1 pm on T day.
Physical Applications (Syndicate Non-Retail, Non-Individual Applications of
QIBs and NIIs) –Upto 12 pm on T day and Syndicate members shall transfer such
applications to banks before 1 pm on T day
Bid Modification From Issue opening date up to 5pm on T day
Validation of bid details with
depositories
From Issue opening date up to 5pm on T day
Reconciliation of UPI mandate
transactions (Based on the guidelines
issued by NPCI from time to time):
Among Stock Exchanges– Sponsor
Banks –NPCI and NPCI –Payment
Service Providers /Third Party
Application Provider – Issuer Banks;
Reporting formats of bid information,
On Daily basis
UPI analysis report and compliance
timelines
Merchant Bankers to submit to SEBI, as and when sought
UPI Mandate acceptance time T day –5pm
Issue Closure T day –4 pm for QIB and NII categories
T day –5 pm for Retail and other reserved categories
Third party check on UPI applications On daily basis and to be completed before 9:30 AM on T+1 day
Third party check on Non UPI
applications.
On daily basis and to be completed before 1 pm on T+1 day
General Information Document for Investing in Public Issues 7
Submission of final certificates:
-For UPI from Sponsor Bank
-For Bank ASBA, from all
SCSBs
-For syndicate ASBA
UPI ASBA – Before 09:30 pm on T day.
All SCSBs for Direct ASBA – Before 07:30 pm on T day
Syndicate ASBA – Before 07:30 pm on T day
Finalization of rejections and
completion of basis
Before 6 pm on T+1 day
Approval of basis by Stock
Exchange
Before 9 pm on T+1 day
Issuance of fund transfer Initiation not later than 09:30 am on T+2 day;
instructions in separate files for
debit and unblock.
For Bank ASBA and Online Completion before 2 pm on T+2 day for fund transfer;
ASBA–To all SCSBs
For UPI ASBA –To Sponsor Completion before 4 pm on T+2 day for unblocking
Bank
Corporate action execution for
credit of shares
Initiation before 2 pm on T+2 day
Completion before 6 pm on T+2 day
Filing of listing application with
Stock Exchanges and issuance of
trading notice
Before 7:30 pm on T+2 day
Publish allotment
advertisement
On website of Issuer, Merchant Banker and RTI – before 9 pm on T+2 day.
In newspapers – On T+3 day but not later than T+4 day
Trading starts T+3 day
In accordance with BSE Circular No: 20220803-40 and NSE Circular No: 25/2022, each dated August 3, 2022, for all pending UPI
Mandate Requests, the Sponsor Banks shall initiate requests for blocking of funds in the ASBA Accounts of relevant Bidders with
a confirmation cut-off time of 5:00 pm on the Bid/Offer Closing Date.
8 General Information Document for Investing in Public Issues
Each Bidder/Applicant should check whether it is eligible to apply under applicable law. Furthermore, certain categories of
Bidders/Applicants, such as NRIs, FPIs and FVCIs may not be allowed to Bid/Apply in the Offer or to hold Equity Shares,
in excess of certain limits or in specific sectors as specified under applicable law. Bidders/Applicants are requested to refer to
the RHP/Prospectus for more details.
Subject to the above, an illustrative list of Bidders/Applicants is as follows:
• Indian nationals resident in India who are competent to contract under the Indian Contract Act, 1872, in single or
joint names (not more than three);
• Bids/Applications belonging to an account for the benefit of a minor (under guardianship);
• Hindu Undivided Families or HUFs, in the individual name of the Karta. The Bidder/Applicant should specify that the
Bid is being made in the name of the HUF in the Bid cum Application Form/Application Form as follows: “Name of
sole or first Bidder/Applicant: XYZ Hindu Undivided Family applying through XYZ, where XYZ is the name of the
Karta”. Bids/Applications by HUFs may be considered at par with Bids/Applications from individuals;
• Companies, corporate bodies and societies registered under applicable law in India and authorised to hold and invest
in equity shares;
• QIBs;
• NRIs on a repatriation basis or on a non-repatriation basis subject to applicable law;
• Indian Financial Institutions, regional rural banks, co-operative banks (subject to RBI regulations and the SEBI ICDR
Regulations and other laws, as applicable);
• FPIs other than FPIs which are individuals, corporate bodies and family offices Bidding under the QIBs category;
• FPIs which are individuals, corporate bodies and family offices, Bidding under the NIIs category;
• Trusts/societies registered under the Societies Registration Act, 1860, or under any other law relating to trusts/societies
and who are authorised under their respective constitutions to hold and invest in equity shares;
• National Investment Fund set up by resolution no. F. No. 2/3/2005-DD-II dated November 23, 2005 of the GoI
published in the Gazette of India;
• Limited liability partnerships registered under the Limited Liability Partnership Act, 2008;
• Any other person eligible to Bid/Apply in the Offer, under the laws, rules, regulations, guidelines and policies
applicable to them and under Indian laws; and
• As per the existing regulations, OCBs are not allowed to participate in an Offer.
SECTION 3: CATEGORY OF INVESTORS ELIGIBLE TO PARTICIPATE IN THE OFFER
General Information Document for Investing in Public Issues 9
Book Built Offer: Bidders should only use the specified Bid cum Application Form bearing stamp of a Designated Intermediary
as available or downloaded from the websites of the Stock Exchanges.
Bid cum Application Forms are available with the Designated Intermediaries at the Bidding Centres and at the registered office
of the Issuer. Electronic Bid cum Application Forms will be available on the websites of the Stock Exchanges at least one day
prior to the Bid/Offer Opening Date. For further details regarding availability of Bid cum Application Forms, Bidders may refer
to the RHP/Prospectus and advertisements in the newspaper(s). For Anchor Investors, Bid cum Application Forms shall
be available at the offices of the BRLM.
Fixed Price Offer: Applicants should only use the specified Bid cum Application Form bearing the stamp of the Designated
Intermediary as available or downloaded from the websites of the Stock Exchanges. Application Forms will also be available
with the Designated Branches of the SCSBs and at the registered office of the Issuer. For further details regarding availability
of Application Forms, Applicants may refer to the Prospectus.
Bidders/Applicants should ensure that they apply in the appropriate category. The prescribed color of the Bid cum Application
Form for various categories of Bidders/Applicants is as follows:
*Excluding electronic Bid cum Application
Forms. Notes:
(1) Electronic Bid Cum Application Forms will also be available for download on the website of the NSE
(www.nseindia.com) and the BSE (www.bseindia.com).
(2) Bid cum Application Forms for Anchor Investors will be made available at the office of the BRLMs.
(3) Bid cum application Forms for Eligible Employees shall be available at the Registered and Corporate Office of the Company.
Securities issued in an IPO can only be in dematerialized form in accordance with Section 29 of the Companies Act, 2013.
Bidders/Applicants will not have the option of getting the Allotment of specified securities in physical form.
4.1 INSTRUCTIONS FOR FILLING THE BID CUM APPLICATION FORM/ APPLICATION FORM
Bidders/Applicants may note that Bid cum Application Form not filled completely or correctly as per instructions
provided in this GID, the RHP/Prospectus and the Bid cum Application Form/Application Form are liable to be
rejected.
Instructions to fill each field of the Bid cum Application Form can be found on the reverse side of the Bid cum
Application Form.
SECTION 4: APPLYING IN THE OFFER
Category Color of the Bid cum Application Form*
Resident Indian, including resident QIBs, Non-Institutional Investors, Retail
Individual Bidders Eligible NRIs applying on a non-repatriation basis
White
NRIs including Eligible NRIs, FVCIs, FPIs, registered multilateral and
bilateral development financial institutions applying on a repatriation basis,
FPIs
Blue
Anchor Investors White
Eligible Employees Bidding in the Employee Reservation Portion Pink
10 General Information Document for Investing in Public Issues
The samples of the Bid cum Application Form for resident Bidders and the Bid cum Application Form for non-resident Bidders
are reproduced below:
Application Form – For Residents
General Information Document for Investing in Public Issues 11
Application Form – For Non – Residents
Specific instructions for filling various fields of the Resident Bid cum Application Form and Non-Resident Bid cum Application
Form and samples are provided below.
12 General Information Document for Investing in Public Issues
4.1.1 FIELD NUMBER 1: NAME AND CONTACT DETAILS OF THE SOLE FIRST BIDDER/APPLICANT
(a) Bidders/Applicants should ensure that the name provided in this field is exactly the same as the name in which
the Depository Account is held.
(b) Mandatory Fields: Bidders/Applicants should note that the name and address fields are compulsory and e-mail
and/or telephone number/mobile number fields are optional. Bidders/Applicants should note that the contact
details mentioned in the Bid-cum Application Form/Application Form may be used to dispatch communications
(including letters notifying the unblocking of the bank accounts of Bidders (other than Anchor Investors) in case
the communication sent to the address available with the Depositories are returned undelivered or are not
available. The contact details provided in the Bid cum Application Form may be used by the Issuer, Designated
Intermediaries and the Registrar to the Offer only for correspondence(s) related to an Offer and for no other
purposes.
(c) Joint Bids/Applications: In the case of Joint Bids/Applications, the Bids /Applications should be made in the
name of the Bidder/Applicant whose name appears first in the Depository account. The name so entered should
be the same as it appears in the Depository records. The signature of only such first Bidder/Applicant would be
required in the Bid cum Application Form/Application Form and such first Bidder/Applicant would be deemed to have
signed on behalf of the joint holders. All communications may be addressed to such first Bidder/Applicant and
may be dispatched to his or her address as per the Demographic Details received from the Depositories.
(d) Impersonation: Attention of the Bidders/Applicants is specifically drawn to the provisions of sub-section (1) of
Section 38 of the Companies Act, 2013 which is reproduced below:
“Any person who:
(a) makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing
for, its securities; or
(b) makes or abets making of multiple applications to a company in different names or in different
combinations of his name or surname for acquiring or subscribing for its securities; or
(c) otherwise induces directly or indirectly a company to allot, or register any transfer of, securities to him,
or to any other person in a fictitious name,
shall be liable for action under Section 447.”
The liability prescribed under Section 447 of the Companies Act, 2013 includes imprisonment for a term
which shall not be less than six months extending up to 10 years (provided that where the fraud involves
public interest, such term shall not be less than three years) and fine of an amount not less than the amount
involved in the fraud, extending up to three times of such amount.
(e) Nomination Facility to Bidder/Applicant: Nomination facility is available in accordance with the provisions
of Section 72 of the Companies Act, 2013. For Allotment of the Equity Shares in dematerialized form, there will
be no separate nomination as the nomination registered with the Depository may prevail. For changing
nominations, the Bidders/Applicants should inform their respective DP.
4.1.2 FIELD NUMBER 2: PAN OF SOLE/FIRST BIDDER/APPLICANT
(a) PAN (of the sole/ first Bidder/Applicant) provided in the Bid cum Application Form/Application Form should be
exactly the same as the PAN of the person(s) in whose name the relevant beneficiary account is held as per the
Depositories” records. Investors must ensure that their PAN is linked with Aadhaar and are in compliance with
CBDT notification dated February 13, 2020 and press release dated June 25, 2021.
General Information Document for Investing in Public Issues 13
(b) PAN is the sole identification number for participants transacting in the securities market irrespective of
the amount of transaction except for Bids/Applications on behalf of the Central or State Government, Bids/
Applications by officials appointed by the courts and Bids/Applications by Bidders/Applicants residing in Sikkim
(“PAN Exempted Bidders/Applicants”). Consequently, all Bidders/Applicants, other than the PAN Exempted
Bidders/Applicants, are required to disclose their PAN in the Bid cum Application Form/Application Form,
irrespective of the Bid/Application Amount. A Bid cum Application Form/Application Form without PAN, except in
case of PAN Exempted Bidders/Applicants, is liable to be rejected. Bids/Applications by the Bidders/Applicants
whose PAN is not available as per the Demographic Details available in their Depository records, are liable to be
rejected.
(c) The exemption for the PAN Exempted Bidders/Applicants is subject to (a) the Demographic Details received from the
respective Depositories confirming the exemption granted to the beneficial owner by a suitable description in the
PAN field and the beneficiary account remaining in “active status”; and (b) in the case of residents of Sikkim, the
address as per the Demographic Details evidencing the same.
(d) Bid cum Application Forms/Application Forms which provide the General Index Register Number instead of
PAN may be rejected.
(e) Bids/Applications by Bidders whose demat accounts have been ‘suspended for credit’ are liable to be rejected
pursuant to the circular issued by SEBI on July 29, 2010, bearing number CIR/MRD/DP/22/2010. Such accounts
are classified as “Inactive demat accounts” and Demographic Details are not provided by depositories.
4.1.3 FIELD NUMBER 3: BIDDERS/APPLICANTS DEPOSITORY ACCOUNT DETAILS
(a) Bidders/Applicants should ensure that DP ID and the Client ID are correctly filled in the Bid cum Application
Form/Application Form. The DP ID and Client ID provided in the Bid cum Application Form/Application Form
should match with the DP ID and Client ID available in the Depository database, otherwise, the Bid cum
Application Form/Application Form is liable to be rejected.
(b) Bidders/Applicants should ensure that the beneficiary account provided in the Bid cum Application Form/
Application Form is active.
(c) Bidders/Applicants should note that on the basis of the PAN, DP ID and Client ID as provided in the Bid cum
Application Form/Application Form, the Bidder/Applicant may be deemed to have authorized the Depositories
to provide to the Registrar to the Offer, any requested Demographic Details of the Bidder/Applicant as available
on the records of the depositories. These Demographic Details may be used, among other things, for any
correspondence(s) related to the Offer.
(d) Bidders/Applicants are, advised to update any changes to their Demographic Details as available in the records
of the Depository Participant to ensure accuracy of records. Any delay resulting from failure to update the
Demographic Details would be at the Bidders/Applicants sole risk.
4.1.4 FIELD NUMBER 4: BID OPTIONS
(a) Price or Floor Price or Price Band, minimum Bid Lot and Discount (if applicable) may be disclosed in the
Prospectus/RHP by the Issuer. The Issuer is required to announce the Floor Price or Price Band, minimum Bid
Lot and Discount (if applicable) by way of an advertisement in at least one English, one Hindi and one regional
newspaper, with wide circulation at the place where the Issuer’s registered office is situated, at least two Working
Days before Bid/Offer Opening Date in case of an IPO, and at least one Working Day before Bid/Offer Opening
Date in case of an FPO.
(b) The Bidders may Bid at or above Floor Price or within the Price Band for IPOs /FPOs undertaken through the
Book Building Process. In the case of Alternate Book Building Process for an FPO, the Bidders may Bid at Floor
Price or any price above the Floor Price (For further details Bidders may refer to (Section 5.6 (e))
(c) Cut-Off Price: Retail Individual Investors or Employees or Retail Individual Shareholders in the Shareholder
Reservation Portion (if any) can Bid at the Cut-off Price indicating their agreement to Bid for and purchase the
Equity Shares at the Offer Price as determined at the end of the Book Building Process. Bidding at the Cut-off
Price is prohibited for QIBs and NIIs and such Bids from QIBs and NIIs are liable to be rejected.
14 General Information Document for Investing in Public Issues
(d) Minimum Application Value and Bid Lot: The Issuer in consultation with the Book Running Lead Managers
may decide the minimum number of Equity Shares for each Bid to ensure that the minimum application value is
within the range of ₹10,000 to ₹ 15,000. The minimum Bid Lot is accordingly determined by an Issuer on the
basis of such minimum application value.
(e) Allotment: The Allotment of specified securities to each RII shall not be less than the minimum Bid Lot, subject
to availability of shares in the Retail Category, and the remaining available shares, if any, shall be Allotted on
a proportionate basis. For details of the minimum Bid Lot, Bidders may refer to the RHP/Prospectus or the
advertisement regarding the Price Band published by the Issuer.
4.1.4.1 Maximum and Minimum Bid Size
(a) The Bidder may Bid for the desired number of Equity Shares at a specific price. Bids by Retail Individual
Investors and Retail Individual Shareholders must be for such number of shares so as to ensure that the Bid
Amount less Discount (as applicable), payable by the Bidder does not exceed ₹ 200,000. In case the Bid Amount
exceeds ₹ 200,000 due to revision of the Bid or any other reason, the Bid may be considered for allocation under
the Non- Institutional Category, with it not being eligible for Discount then such Bid may be rejected if it is at
the Cut-off Price. The maximum bid Amount under the Employee Reservation Portion by an Eligible Employee
could not exceed ₹ 500,000. However, the initial Allotment to an Eligible Employee in the Employee Reservation
Portion could not exceed ₹ 200,000. Only in the event of an under- subscription in the Employee Reservation
Portion post the initial Allotment, such unsubscribed portion may be Allotted on a proportionate basis to Eligible
Employees Bidding in the Employee Reservation Portion, for a value in excess of ₹ 200,000, subject to the total
Allotment to an Eligible Employee not exceeding ₹ 500,000.
(b) For NRIs, a Bid Amount of up to ₹ 200,000 may be considered under the Retail Category for the purposes of
allocation and a Bid Amount exceeding ₹ 200,000 may be considered under the Non-Institutional Category for
the purposes of allocation.
(c) Bids by QIBs and NIIs must be for such minimum number of shares such that the Bid Amount exceeds
₹ 200,000 and in multiples of such number of Equity Shares thereafter, as may be disclosed in the Bid cum
Application Form and the RHP/Prospectus, or as advertised by the Issuer, as the case may be. Non-Institutional
Investors and QIBs are not allowed to Bid at “Cut- off Price”.
(d) RIIs may withdraw their bids on the Bid/Offer Closing Date or revise their bids until 5:00 PM on the Bid/Offer
Closing Date. QIBs and NII’s cannot withdraw or lower their Bids (in terms of quantity of Equity Shares or the
Bid Amount) at any stage after bidding and all categories of investors are required to pay the Bid Amount upon
submission of the Bid.
(e) In case the Bid Amount reduces to ₹ 200,000 or less due to a revision of the Price Band, Bids by the NonInstitutional Investors who are eligible for allocation in the Retail Category would be considered for allocation
under the Retail Category.
(f) For Anchor Investors, if applicable, the Bid Amount shall be least ₹ 10 crores. One-third of the Anchor Investor
Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic
Mutual Funds at or above the price at which allocation is being done to other Anchor Investors. Bids by various
schemes of a Mutual Fund shall be aggregated to determine the Bid Amount. A Bid cannot be submitted for more
than 60% of the QIB Category under the Anchor Investor Portion. Anchor Investors cannot withdraw their
Bids or lower the size of their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after
the Anchor Investor Bid/Offer Period and are required to pay the Bid Amount at the time of submission of the
Bid. In case the Anchor Investor Allocation Price is lower than the Offer Price, the balance amount shall be
payable as per the pay-in-date mentioned in the revised CAN. In case the Offer Price is lower than the Anchor
Investor Allocation Price, the amount in excess of the Offer Price paid by the Anchor Investors shall not be
refunded to them.
(g) A Bid by QIB bidder cannot be submitted for more than the Offer size.
(h) The maximum Bid by any Bidder including QIB Bidder should not exceed the investment limits prescribed for
them under the applicable laws. It is clarified that, multiple Bids by a FPI Bidder utilising the multi investment
manager structure shall be aggregated for determining the permissible maximum Bid.
(i) A Bid by NII bidder cannot be submitted for more than the Offer size excluding QIB portion.
General Information Document for Investing in Public Issues 15
(j) The price and quantity options submitted by the Bidder in the Bid cum Application Form may be treated as
optional bids from the Bidder and may not be cumulated. After determination of the Offer Price, the number of
Equity Shares Bid for by a Bidder at or above the Offer Price may be considered for Allotment and the rest of the
Bid(s), irrespective of the Bid Amount may automatically become invalid. This is not applicable in case of FPOs
undertaken through Alternate Book Building Process (For details of Bidders may refer to (Section 5.6 (e)).
4.1.4.2 Multiple Bids
(a) Bidder should submit only one Bid cum Application Form. Bidder shall have the option to make a maximum of
Bids at three different price levels in the Bid cum Application Form and such options are not considered as
multiple Bids.
Submission of a second Bid cum Application Form to either the same or to another Designated Intermediary and
duplicate copies of Bid cum Application Forms bearing the same application number shall be treated as multiple
Bids and are liable to be rejected.
(b) Bidders are requested to note the following procedures may be followed by the Registrar to the Offer to detect
multiple Bids:
i. All Bids may be checked for common PAN as per the records of the Depository. For Bidders other than
Mutual Funds and FPIs which utilise the multi investment manager structure of the same beneficial owner
as provided under Regulation 20 (4)(d)(xiii) of the SEBI (Foreign Portfolio Investors) Regulations, 2019,
Bids bearing the same PAN may be treated as multiple Bids by a Bidder and may be rejected.
ii. For Bids from Mutual Funds and FPIs that utilise the multi investment manager structure, submitted
under the same PAN, as well as Bids on behalf of the PAN Exempted Bidders/ Applicants, the Bid cum
Application Forms may be checked for common DP ID and Client ID. Such Bids which have the same DP
ID and Client ID may be treated as multiple Bids and are liable to be rejected.
(c) The following Bids may not be treated as multiple Bids:
i. Bids by Eligible Employees and Retail Individual Shareholders in their respective Reservation Portion as
well as Bids made by them in the Net Offer portion in the public category.
ii. Separate Bids by Mutual Funds in respect of more than one scheme of the Mutual Fund provided that the
Bids clearly indicate the scheme for which the Bid has been made.
iii. Bids by Mutual Funds submitted with the same PAN but with different beneficiary account numbers,
Client IDs and DP IDs.
iv. Bids by following FPIs, submitted with the same PAN but with different beneficiary account numbers,
Client IDs and DP IDs:
• FPIs which utilise the multi investment manager structure
• Offshore Derivative Instruments (ODI) which have obtained separate FPI registration for ODI and
proprietary derivative investments.
• Sub funds or separate class of investors with segregated portfolio who obtain separate FPI registration.
• FPI registrations granted at investment strategy level/sub fund level where a Collective Investment
Scheme or fund has multiple investment strategies/sub- funds with identifiable differences and managed
by a single investment manager.
• Multiple branches in different jurisdictions of foreign bank registered as FPIs.
• Government and Government related investors registered as Category 1 FPIs.
• Entities registered as Collective Investment Scheme having multiple share classes.
The bids belonging to the aforesaid seven structures and having same PAN may be collated and identified
as a single bid in the bidding process. The shares allotted in the bid may be proportionately distributed to
the applicant FPIs (with same PAN).
v. Bids by Anchor Investors under the Anchor Investor Portion and the QIB Category.
16 General Information Document for Investing in Public Issues
4.1.5 FIELD NUMBER 5: CATEGORY OF BIDDERS
(a) The categories of Bidders identified as per the SEBI ICDR Regulations for the purpose of Bidding, allocation
and allotment in the Offer are RIIs, NIIs and QIBs.
(b) Up to 60% of the QIB Category can be allocated by the Issuer, on a discretionary basis subject to the criteria of
minimum and maximum number of Anchor Investors based on allocation size, to the Anchor Investors, in
accordance with SEBI ICDR Regulations, with one-third of the Anchor Investor Portion reserved for domestic
Mutual Funds subject to valid Bids being received at or above the Offer Price. For details regarding allocation to
Anchor Investors, Bidders may refer to the RHP/Prospectus.
(c) An Issuer can make reservation for certain categories of Bidders/Applicants as permitted under the SEBI ICDR
Regulations. For details of any reservations made in the Offer, Bidders/Applicants may refer to the RHP/
Prospectus.
(d) The SEBI ICDR Regulations, specify the allocation or Allotment that may be made to various categories of
Bidders in an Offer depending upon compliance with the eligibility conditions. Details pertaining to allocation
are disclosed on reverse side of the Revision Form. For Offer specific details in relation to allocation Bidder/
Applicant may refer to the RHP/Prospectus.
4.1.6 FIELD NUMBER 6: BIDDER STATUS
(a) Each Bidder/Applicant should check whether it is eligible to apply under applicable law and ensure that any
prospective Allotment to it in the Offer is in compliance with the investment restrictions under applicable law.
(b) Certain categories of Bidders/Applicants, such as NRIs, FPIs and FVCIs may not be allowed to Bid/Apply in the
Offer or hold Equity Shares exceeding certain limits specified under applicable law. Bidders/Applicants are
requested to refer to the RHP/Prospectus for more details.
(c) Bidders/Applicants should check whether they are eligible to apply on non-repatriation basis or repatriation basis
and should accordingly provide the investor status. Details regarding investor status are different in the Resident
Bid cum Application Form and Non-Resident Bid cum Application Form.
(d) Bidders/Applicants should ensure that their investor status is updated in the Depository records.
4.1.7 FIELD NUMBER 7: PAYMENT DETAILS
(a) Bidders are required to enter either the ASBA Bank account details or the UPI ID in this field. In case the Bidder
doesn’t provide any of the ASBA Bank account details or the UPI ID then the application would be rejected. For
application submitted by RIIs to Designated Intermediaries (other than SCSBs), RIIs providing both, the ASBA
Bank account details as well as the UPI ID, the UPI ID will be considered for processing of the application.
Applications made using the ASBA facility in initial public offerings (opening on or after September 1, 2022) shall be
processed only after application monies are blocked in the bank accounts of investors (irrespective of the category of
investor). NRIs applying in the Offer through the UPI mechanism are advised to enquire with the relevant Bank,
whether their account is UPI linked, prior to making such application through Channel III.
(b) The full Bid Amount (net of any Discount, as applicable) shall be blocked based on the authorization provided
in the Bid cum Application Form. If the Discount is applicable in the Offer, the RIIs and Retail Individual
Shareholders and Employees Bidding in the Employee Reservation Portion (if any) should indicate the full
Bid Amount in the Bid cum Application Form and the payment shall be blocked for the Bid Amount net of
Discount. Only in cases where the RHP/Prospectus indicates that part payment may be made, such an option
can be exercised by the Bidder. In case of Bidders specifying more than one Bid Option in the Bid cum
Application Form, the total Bid Amount may be calculated for the highest of three options at net price, i.e.,
Bid price less Discount offered, if any
(c) RIIs bidding at Cut-off price, the amount shall be blocked based on the Cap Price.
(d) All QIB and NII Bidders (other than Anchor Investors) can participate in the Offer only through the ASBA
mechanism
General Information Document for Investing in Public Issues 17
(e) UPI Bidders submitting their applications through Designated Intermediaries (other than SCSBs) can participate
in the Offer only through the UPI mechanism, using their UPI ID linked with their bank account. UPI Bidders
applying in the Offer through the UPI mechanism shall ensure that the name of the bank, with which the UPI
Bidder maintains his account, appears in the list of SCSBs displayed on the SEBI website, which are live on UPI.
UPI Bidders shall also ensure that the name of the mobile application and the UPI handle being used for making
the application in the Offer are also appearing in the “list of mobile applications for using UPI in public issues”
displayed on the SEBI website. NRIs applying in the Offer through the UPI mechanism are advised to enquire
with the relevant Bank, whether their account is UPI linked, prior to making such application through Channel
III.
(f) Bid Amount cannot be paid in cash, cheque, demand draft, through money order or through postal order.
(g) Pursuant to SEBI circular no. SEBI/HO/CFD/DIL2/P/CIR/P/2022/45 dated April 5, 2022, all individual bidders in
initial public offerings (opening on or after May 1, 2022) whose application sizes are up to ₹ 5 lakhs shall use the
UPI Mechanism.
(h) In case of ASBA Bidders (other than 3-in-1 Bids) for a Bid above ₹ 500,000, ensure that the Bid is uploaded only
by the SCSBs.
4.1.7.1. Instructions for Anchor Investors:
(a) Anchor Investors shall submit their Bids only with any of the BRLMs to the Offer.
(b) Payments should be made either by direct credit, RTGS, NACH or NEFT.
(c) The Anchor Escrow Bank(s) shall maintain the monies in the Anchor Escrow Account for and on behalf of the
Anchor Investors until the Designated Date.
4.1.7.2. Payment instructions for Bidders (other than Anchor Investors)
(a) UPI Bidders bidding through Designated Intermediaries should note that with the introduction of UPI as a
payment mechanism, there are three channels of making applications in public issues available to them in UPI
Phase II (i.e., from July 1, 2019 until further notice). The three channels for making applications in public issues
available to UPI Bidders bidding through Designated Intermediaries are as follows:
Channel I Channel II Channel III
UPI Bidders may submit the Bid UPI Bidders may submit the Bid UPI Bidders may submit the Bid
cum Application Form with ASBA cum Application Form online using cum Application Form with any
as the sole mechanism for making the facility of linked online trading, of the Designated Intermediaries
payment either physically (at the demat and bank account (3-in-1 (other than SCSBs) and use his/her
branch of the SCSB) or online. For type accounts) provided by some of UPI ID for the purpose of blocking
such applications the existing the brokers. of funds.
process of uploading the bid and
blocking of funds in the UPI
Bidders account by the SCSB
would continue.
UPI Bidders bidding in the Offer through UPI shall make such applications only through the SCSBs/
mobile applications whose name appears on the SEBI website – www.sebi.gov.in at the following path:
Home » Intermediaries/Market Infrastructure Institutions » Recognised Intermediaries » Self Certified Syndicate
Banks eligible as Issuer Banks for UPI
Home » Intermediaries/Market Infrastructure Institutions » Recognised Intermediaries » list of mobile
applications for using UPI in public issues
UPI Bidders whose bank is not live on UPI may use the other alternate channels available to them, i.e., submission
of application form with SCSB (Channel I) or using the facility of linked online trading, demat and bank account
(Channel II).
NRIs applying in the Offer through the UPI mechanism are advised to enquire with the relevant Bank,
whether their account is UPI linked, prior to making such application through Channel III.
18 General Information Document for Investing in Public Issues
For UPI Phase III, UPI Bidders will also have the option to use the same channels (as described above) for
making applications in a public issue.
Please see below a graphical illustrative process of the investor receiving and approving the UPI Mandate
Request.
General Information Document for Investing in Public Issues 19

20 General Information Document for Investing in Public Issues
(b) QIB and NII Bidders (with an application size of more than Rs 500,000) may submit the Bid cum Application Form
either
i. to SCSBs in physical or electronic mode through the internet banking facility offered by an SCSB authorizing
blocking of funds that are available in the ASBA account specified in the Bid cum Application Form, or
ii. in physical mode to any Designated Intermediary.
(c) Bidders must specify the Bank Account number or the UPI ID (for UPI Bidders bidding using the UPI mechanism), as
applicable, in the Bid cum Application Form. The Bid cum Application Form submitted by a Bidder and which is
accompanied by cash, demand draft, cheque, money order, postal order or any mode of payment other than blocked
amounts in the ASBA Account, may not be accepted.
(d) Bidders should note that application made using third party UPI ID or ASBA Account is liable to be rejected.
(e) NRIs applying in the Offer through the UPI mechanism are advised to enquire with the relevant Bank, whether their
account is UPI linked, prior to making such application through Channel III.
(f) Bidders shall note that for the purpose of blocking funds under ASBA facility clearly demarcated funds shall be
available in the ASBA Account.
(g) Bidders (other than RIIs bidding through the non-UPI mechanism) should submit the Bid cum Application Form only
at the Bidding Centers, i.e. to the respective member of the Syndicate at the Specified Locations, the SCSBs, the
Registered Broker at the Broker Centres, the CRTA at the Designated RTA Locations or CDP at the Designated CDP
Locations. RIIs bidding through the non-UPI mechanism should either submit the physical Bid cum Application Form
with the SCSBs or Designated Branches of SCSBs under Channel I or submit the Bid cum Application Form online
using the facility of 3-in-1 type accounts under Channel II.
(h) Bidders (other than RIIs bidding through the non-UPI mechanism) bidding through Designated Intermediaries
other than a SCSB, should note that ASBA Forms submitted to such Designated Intermediary may not be accepted,
if the SCSB where the ASBA Account, as specified in the Bid cum Application Form, is maintained has not named at
least one branch at that location for such Designated Intermediary, to deposit ASBA Forms.
(i) Bidders bidding directly through the SCSBs should ensure that the Bid cum Application Form is submitted to a
Designated Branch of a SCSB where the ASBA Account is maintained.
(j) Upon receipt of the Bid cum Application Form, the Designated Branch of the SCSB may verify if sufficient funds
equal to the Bid Amount are available in the ASBA Account, as mentioned in the Bid cum Application Form.
(k) If sufficient funds are available in the ASBA Account, the SCSB may block an amount equivalent to the Bid Amount
mentioned in the Bid cum Application Form and for application directly submitted to SCSB by investor,may enter
each Bid option into the electronic bidding system as a separate Bid.
(l) If sufficient funds are not available in the ASBA Account, the Designated Branch of the SCSB may not upload such
Bids on the Stock Exchange platform and such bids are liable to be rejected.
(m) Upon submission of a completed Bid cum Application Form each Bidder (not being a UPI Bidder who has opted for the UPI
mechanism and provided a UPI ID with the Bid cum Application Form) may be deemed to have agreed to block the
entire Bid Amount and authorized the Designated Branch of the SCSB to block the Bid Amount specified in the Bid
cum Application Form in the ASBA Account maintained with the SCSBs. For details regarding blocking of Bid
Amount for UPI Bidders who have provided a UPI ID with the Application Form please refer to paragraph 4.1.7.4.
(n) The Bid Amount may remain blocked in the aforesaid ASBA Account until finalisation of the Basis of Allotment and
consequent transfer of the Bid Amount against the Allotted Equity Shares to the Public Offer Account, or until
withdrawal or failure of the Offer, or until withdrawal or rejection of the Bid, as the case may be.
(o) SCSBs bidding in the Offer must apply through an Account maintained with any other SCSB; else their Bids are liable to be
rejected.
General Information Document for Investing in Public Issues 21
4.1.7.3. Unblocking of ASBA Account
(a) Once the Basis of Allotment is approved by the Designated Stock Exchange, the Registrar to the Offer may provide
the following details to the controlling branches of each SCSB or the Sponsor Banks, as the case may be,
along with instructions to unblock the relevant ASBA Accounts and for successful applications transfer the
requisite money to the Public Offer Account designated for this purpose, within the specified timelines:
(i) the number of Equity Shares to be Allotted against each Bid, (ii) the amount to be transferred from the relevant
ASBA Account to the Public Offer Account, for each Bid, (iii) the date by which funds referred to in
(ii) above may be transferred to the Public Offer Account, (iv) the amount to be unblocked, if any in case of partial
allotments and (v) details of rejected ASBA Bids, if any, along with reasons for rejection and details of withdrawn
or unsuccessful Bids, if any, to enable the SCSBs or the Sponsor Bank, as the case may be, to unblock the
respective ASBA Accounts.
(b) On the basis of instructions from the Registrar to the Offer, the SCSBs or the Sponsor Banks, as the case may
be, may transfer the requisite amount against each successful Bidder to the Public Offer Account and may unblock
the excess amount, if any, in the ASBA Account.
(c) In the event of withdrawal or rejection of the Bid cum Application Form and for unsuccessful Bids, the Registrar to
the Offer may give instructions to the SCSB or to the Sponsor Bank to revoke the mandate and, as the case may
be, to unblock the Bid Amount in the relevant account within four Working Days of the Bid/Offer Closing Date
4.1.7.4. Additional Payment Instructions for UPI Bidders bidding through Designated Intermediaries (other than
SCSBs) using the UPI mechanism
(a) Before submission of the application form with the Designated Intermediary, a UPI Bidder shall download the
mobile application, associated with the UPI ID linked bank account, for UPI and create a UPI ID (xyz@ bank
name) of not more than 45 characters with its bank and link it to his/ her bank account where the funds equivalent
to the application amount is available. UPI Bidders shall also ensure that the name of the mobile application and
the UPI handle being used for making the application in the Offer are appearing in the following path on SEBI
website – www.sebi.gov.in:
Home » Intermediaries/Market Infrastructure Institutions » Recognised Intermediaries » list of mobile
applications for using UPI in public issues
It is clarified that if a UPI Bidder makes an application through a UPI handle not covered in the prescribed list
(as mentioned in the path above), such an application is liable to be rejected.
(b) UPI Bidders shall ensure that the bank, with which it has its bank account, where the funds equivalent to the
application amount is available for blocking has been notified as Issuer Banks for UPI. A list of such banks is
available at the following path on SEBI website – www.sebi.gov.in:
Home » Intermediaries/Market Infrastructure Institutions » Recognised Intermediaries » Self Certified Syndicate
Banks eligible as Issuer Banks for UPI
It is clarified that if a UPI Bidder makes an application using a bank account of an SCSB or bank which is not
covered in the prescribed list (as mentioned in the path above), such an application is liable to be rejected.
(c) UPI Bidders shall mention his / her UPI ID along with the bid details in the Bid cum Application Form in capital
letters and submit the Bid cum Application Form to any of the Designated Intermediaries (other than SCSBs).
It is clarified that if a UPI Bidder submits a third party UPI ID instead of his/her own UPI ID in the Bid cum
Application Form, the application is liable to be rejected.
(d) The Designated Intermediary (other than SCSBs) upon receipt of the Bid cum Application Form will upload the
bid details along with UPI ID in the stock exchange bidding platform.
(e) Once the bid has been entered into the Stock Exchange bidding platform, the stock exchange will validate
the PAN and Demat Account details of the UPI Bidders with the Depository. The Depository will validate the
aforesaid details on a real time basis and send a response to the stock exchange which will be shared by the stock
exchange with the respective Designated Intermediary through its bidding platform, for corrections, if any.
22 General Information Document for Investing in Public Issues
(f) Once the bid details have been validated by the Depository, the stock exchange will, on a continuous basis,
electronically share the bid details along with the UPI ID of the concerned UPI Bidders with the Sponsor Bank
appointed by the Issuer.
(g) The Sponsor Bank will validate the UPI ID of the UPI Bidders before initiating the Mandate request.
(h) The Sponsor Bank after validating the UPI ID will initiate a UPI Mandate Request for valid UPI ID on the UPI
Bidders which will be electronically received by the UPI Bidders as an SMS / intimation on his / her mobile
number / mobile app associated with the UPI ID linked account. The UPI Bidders shall ensure that the details
of the Bid are correct by opening the attachment in the UPI Mandate Request and then proceed to authorise the
UPI Mandate Request using his/her UPI PIN. Upon the authorization of the mandate using his/her UPI PIN, a
UPI Bidders may be deemed to have verified the attachment containing the application details of the UPI Bidders
in the UPI Mandate Request and have agreed to block the entire Bid Amount mentioned in the Bid Cum
Application Form and subsequent debit in case of Allotment.
(i) Upon successful validation of the block request by the UPI Bidders, the said information would be electronically
received by the UPI Bidders, bank, where the funds, equivalent to the application amount would get blocked in
the ASBA Account of the UPI Bidders. Intimation regarding confirmation of such blocking of funds in the ASBA
Account of the UPI Bidders would also be received by the UPI Bidders. Information on the block status request
would be shared with the Sponsor Banks which in turn would share it with the stock exchange, which
inturn would share it with the Registrar in the form of a file for the purpose of reconciliation and display
it on the stock exchange bidding platform for the information of the Designated Intermediary.
(j) In accordance with BSE Circular No: 20220803-40 and NSE Circular No: 25/2022, each dated August 3, 2022,
for all pending UPI Mandate Requests, the Sponsor Bank shall initiate requests for blocking of funds in the ASBA
Accounts of relevant Bidders with a confirmation cut-off time of 5:00 pm on the Bid/Offer Closing Date (“CutOff Time”). Accordingly, UPI Bidders should accept UPI Mandate Requests for blocking of funds prior to the
Cut- Off Time and all pending UPI Mandate Requests at the Cut-Off Time shall lapse.
(k) UPI Bidders may continue to withdraw their Bid on the Bid/Offer Closing Date or modify the Bid during the
Bid/Offer Period until the Cut-Off Time. For each modification of the Bid, the UPI Bidders will submit a revised
Bid and will receive a UPI Mandate Request from the Sponsor Bank to be validated as per the process indicated
above.
(l) UPI Bidders to check the correctness of the details on the mandate received before approving the Mandate
Request.
(m) Post closure of the Offer, the stock exchange will share the Bid details with the Registrar along with the final file
received from the Sponsor Bank containing status of blocked funds or otherwise, along with the ASBA Account
details with respect to applications made by UPI Bidders using UPI ID.
4.1.7.5. Discount (if applicable)
(a) The Discount is stated in absolute rupee terms.
(b) Bidders applying under Retail Category, Retail Individual Shareholder and Employees under Employee
Reservation Portion are only eligible for discount. For Discounts offered in the Offer, Bidders may refer to the
RHP/Prospectus.
(c) The Bidders entitled to the applicable Discount in the Offer may block their ASBA Account for an amount i.e.
the Bid Amount less Discount (if applicable).
(d) Bidder (other than employees) may note that in case the net amount blocked (post Discount) is more than two
lakh Rupees, the Bidding system automatically considers such applications for allocation under Non
Institutional Category. These applications are neither eligible for Discount nor fall under Retail Category.
4.1.8 FIELD NUMBER 8: SIGNATURES AND OTHER AUTHORISATIONS
(a) Only the First Bidder/Applicant is required to sign the Bid cum Application Form/Application Form. Bidders/
Applicants should ensure that signatures are in one of the languages specified in the Eighth Schedule to the
Constitution of India.
(b) The signature has to be correctly affixed in the authorization/undertaking box in the Bid cum Application Form/
Application Form, or an authorisation has to be provided to the SCSB or using the UPI to the Sponsor Bank,
via the electronic mode, for blocking funds in the ASBA Account equivalent to the Bid Amount mentioned in
the Bid cum Application Form/Application Form.
General Information Document for Investing in Public Issues 23
(c) Bidders/Applicants must note that Bid cum Application Form/Application Form without signature of Bidder/
Applicant and /or ASBA Account holder is liable to be rejected.
4.1.9 ACKNOWLEDGEMENT AND FUTURE COMMUNICATION
(a) Bidders should ensure that they receive the Acknowledgment slip or the acknowledgement number duly signed
and stamped by a Designated Intermediary, as applicable, for submission of the Bid cum Application Form.
(b) All communications in connection with Bids/Applications made in the Offer should be addressed as under:
i. In case of queries related to Allotment, non-receipt of Allotment Advice, credit of Allotted Equity Shares,
unblocking of funds, the Bidders/Applicants should contact the Registrar to the Offer.
ii. In case of Bids submitted to the Designated Branches of the SCSBs, the Bidders/Applicants should
contact the relevant Designated Branch of the SCSB.
iii. In case of queries relating to uploading of Syndicate ASBA Bids, the Bidders/Applicants should contact
the relevant Syndicate Member.
iv. In case of queries relating to uploading of Bids by a Designated Intermediary, the Bidders/Applicants
should contact the relevant Designated Intermediary.
v. In case of queries relating to uploading of Bids through the UPI Mechanism, the Bidders/Applicants should
contact the Designated Intermediary/BRLMs.
vi. Bidder/Applicant may contact the Company Secretary and Compliance Officer or BRLMs in case of
any other complaints in relation to the Offer.
(c) The following details (as applicable) should be quoted while making any queries –
i. full name of the sole or First Bidder/Applicant, Bid cum Application Form number, Applicants’/Bidders’
DP ID, Client ID, PAN, number of Equity Shares applied for, amount paid on application.
ii. name and address of the Designated Intermediary, where the Bid was submitted along with the
acknowledgment slip from Designated Intermediary or
iii. Bids, ASBA Account number or the UPI ID (for UPI Bidders who make the payment of Bid Amount
through the UPI mechanism) linked to the ASBA Account where the Bid Amount was blocked.
For further details, Bidder/Applicant may refer to the RHP/Prospectus and the Bid cum Application Form.
4.2 INSTRUCTIONS FOR FILING THE REVISION FORM
(a) During the Bid/Offer Period, any Bidder/Applicant (other than QIBs and NIIs, who can only revise their bid
upwards) who has registered his or her interest in the Equity Shares at a particular price level is free to revise his
or her Bid within the Price Band using the Revision Form, which is a part of the Bid cum Application Form.
(b) RII may withdraw their Bids on the Bid/Offer Closing Date or revise their Bids until 5:00 PM on the Bid/Offer
Closing Date.
(c) Revisions can be made in both the desired number of Equity Shares and the Bid Amount by using the Revision
Form.
(d) The Bidder/Applicant can make this revision any number of times during the Bid/ Offer Period. However, for any
revision(s) in the Bid, the Bidders/Applicants will have to use the services of the same Designated Intermediary
through which such Bidder/Applicant had placed the original Bid. It is clarified that UPI Bidders whose original
Bid is made using the UPI mechanism can make revision(s) to their Bid using the UPI mechanism only, whereby
each time the Sponsor Bank will initiate a new UPI Mandate Request. Bidders/Applicants are advised to retain
copies of the blank Revision Form and the Bid(s) must be made only in such Revision Form or copies thereof.
24 General Information Document for Investing in Public Issues
A sample revision form is reproduced below:
Instructions to fill each field of the Revision Form can be found on the reverse side of the Revision Form. Other than instructions
already highlighted at paragraph 4.1 above, point wise instructions regarding filling up various fields of the Revision Form are
provided below:
General Information Document for Investing in Public Issues 25
4.2.1 FIELDS 1, 2 AND 3: NAME AND CONTACT DETAILS OF SOLE/FIRST BIDDER/APPLICANT, PAN OF
SOLE/FIRST BIDDER/APPLICANT & DEPOSITORY ACCOUNT DETAILS OF THE BIDDER/
APPLICANT
Bidders/Applicants should refer to instructions contained in paragraphs 4.1.1, 4.1.2 and 4.1.3.
4.2.2 FIELD 4 & 5: BID OPTIONS REVISION “FROM” AND “TO”
(a) Apart from mentioning the revised options in the Revision Form, the Bidder/Applicant must also mention the
details of all the bid options given in his or her Bid cum Application Form or earlier Revision Form. For example,
if a Bidder/Applicant has Bid for three options in the Bid cum Application Form and such Bidder/Applicant is
changing only one of the options in the Revision Form, the Bidder/Applicant must still fill the details of the other
two options that are not being revised, in the Revision Form. The Designated Intermediaries may not accept
incomplete or inaccurate Revision Forms.
(b) In case of revision, Bid options should be provided by Bidders/Applicants in the same order as provided in the
Bid cum Application Form.
(c) In case of revision of Bids by RIIs and Retail Individual Shareholders, such Bidders/Applicants should ensure
that the Bid Amount, subsequent to revision, does not exceed ₹ 200,000. In case the Bid Amount exceeds ₹
200,000 due to revision of the Bid or for any other reason, the Bid may be considered, subject to eligibility, for
allocation under the Non-Institutional Category, not being eligible for Discount (if applicable) and such Bid may
be rejected if it is at the Cut- off Price. The Cut-off Price option is given only to the RIIs, Employees and Retail
Individual Shareholders indicating their agreement to Bid for and purchase the Equity Shares at the Offer Price
as determined at the end of the Book Building Process.
(d) In case of revision of Bids by Employees, such Bidders/Applicants should ensure that the Bid Amount,
subsequent to revision, does not exceed ₹ 500,000.
(e) If, however, the RII does not either revise the Bid or make additional payment and the Offer Price is higher than
the cap of the Price Band prior to revision, the number of Equity Shares Bid for shall be adjusted downwards for
the purpose of allocation, such that no additional payment would be required from the RII and the RII is deemed
to have approved such revised Bid at Cut- off Price.
(f) In case of a downward revision in the Price Band, RIIs and Bids by Employees and Retail IndividualShareholders
under the Reservation Portion, who have bid at the Cut-off Price could either revise their Bid or the excess amount
paid at the time of Bidding will be unblocked.
4.2.3 FIELD 6: PAYMENT DETAILS
(a) In case of a downward revision in the Price Band, RIIs, Employees and Retail Individual Shareholders, who have
bid at the Cut-off Price, could either revise their Bid or the excess amount paid at the time of Bidding may be
unblocked.
(b) All Bidders/Applicants are required to authorize blocking of the full Bid Amount (less Discount (if applicable)
at the time of submitting the Bid Revision Form. In case of Bidders/Applicants specifying more than one Bid
Option in the Bid cum Application Form, the total Bid Amount may be calculated for the highest of three options
at net price, i.e. Bid price less discount offered, if any.
(c) Bidder/Applicant may issue instructions to block the revised amount based on cap of the revised Price Band
(adjusted for the Discount (if applicable) in the ASBA Account, to the same Designated Intermediary through
whom such Bidder/Applicant had placed the original Bid to enable the relevant SCSB to block the additional
Bid Amount, if any
4.2.4 FIELD 7: SIGNATURES AND ACKNOWLEDGEMENTS
Bidders/Applicants may refer to instructions contained at paragraphs 4.1.8 and 4.1.9 for this purpose.
4.3 INSTRUCTIONS FOR FILING APPLICATION FORM IN OFFERS MADE OTHER THAN THROUGH
THEBOOK BUILDING PROCESS (FIXED PRICE OFFER)
26 General Information Document for Investing in Public Issues
4.3.1 FIELDS 1, 2, 3 NAME AND CONTACT DETAILS OF SOLE/FIRST BIDDER/APPLICANT, PAN OF SOLE/
FIRST BIDDER/APPLICANT & DEPOSITORY ACCOUNT DETAILS OF THE BIDDER/APPLICANT
Applicants should refer to instructions contained in paragraphs 4.1.1, 4.1.2 and 4.1.3.
4.3.2 FIELD 4: PRICE, APPLICATION QUANTITY & AMOUNT
(a) The Issuer may mention Price or Price Band in the draft Prospectus. However a prospectus registered with RoC
contains one price or coupon rate (as applicable).
(b) Minimum Application Value and Bid Lot: The Issuer in consultation with the Book Running Lead Manager
to the Offer (LM) may decide the minimum number of Equity Shares for each Bid to ensure that the minimum
application value is within the range of ₹ 10,000 to ₹ 15,000. The minimum Lot size is accordingly determined
by an Issuer on basis of such minimum application value.
(c) Applications by RIIs and Retail Individual Shareholders, must be for such number of shares so as to ensure that
the application amount less Discount (as applicable) payable does not exceed ₹ 200,000.
(d) Applications by Employees must be for such number of shares that the application amount payable less Discount
(as applicable) does not exceed ₹ 500,000.
(e) Applications by other investors must be for such minimum number of shares such that the application amount
exceeds ₹ 200,000 and in multiples of such number of Equity Shares thereafter, as may be disclosed in the
application form and the Prospectus, or as advertised by the Issuer, as the case may be.
(f) An application cannot be submitted for more than the Offer size.
(g) The maximum application by any Applicant should not exceed the investment limits prescribed for them under
the applicable laws.
(h) Multiple Applications: An Applicant should submit only one Application Form. Submission of a second
Application Form to either the same or other SCSB and duplicate copies of Application Forms bearing the same
application number shall be treated as multiple applications and are liable to be rejected.
(i) For details regarding the procedures to be followed by the Registrar to detect multiple applications. Applicants
should refer to paragraphs 4.1.4.2(b) and 4.1.4.2(c).
4.3.3 FIELD NUMBER 5 : CATEGORY OF APPLICANTS
(a) The categories of applicants identified as per the SEBI ICDR Regulations for the purpose of Bidding, allocation
and Allotment in the Offer are RIIs, individual applicants other than RII“s and other investors (including corporate
bodies or institutions, irrespective of the number of specified securities applied for).
(b) An Issuer can make reservation for certain categories of Applicants permitted under the SEBI ICDR Regulations.
For details of any reservations made in the Offer, applicants may refer to the Prospectus.
(c) The SEBI ICDR Regulations specify the allocation or Allotment that may be made to various categories of
applicants in an Offer depending upon compliance with the eligibility conditions. Details pertaining to
allocationare disclosed on reverse side of the Revision Form. For Offer specific details in relation to allocation
applicant may refer to the Prospectus.
4.3.4 FIELD NUMBER 6: INVESTOR STATUS
Applicants should refer to instructions contained in paragraphs 4.1.6.
4.3.5 FIELD 7: PAYMENT DETAILS
(a) Bidders are required to enter either the ASBA Bank account details or the UPI ID in this field. In case the Bidder
doesn“t provide any of the ASBA Bank account details or the UPI ID then the application would be rejected. For
application submitted to Designated Intermediaries (other than SCSBs), Bidder providing both the ASBA Bank
account details as well as the UPI ID, the UPI ID will be considered for processing of the application.
General Information Document for Investing in Public Issues 27
(b) All Applicants (other than Anchor Investors) are required to make use of ASBA for applying in the Offer.
(c) UPI Bidders applying through Designated Intermediaries (other than SCSBs) may make use of the UPI
mechanism for applying in the Offer. If UPI Bidders are applying in the Offer through non-UPI mechanism then
it shall either submit physical Bid cum Application Form with the SCSBs or the Designated Branches of the
SCSBs under Channel I or submit the Bid cum Application Form online using the facility of 3-in1 type accounts
under Channel II.
(d) Application Amount cannot be paid in cash, cheques or demand drafts through money order or through postal
order or through stock invest.
(e) Applications made using the ASBA facility in initial public offerings (opening on or after September 1, 2022)
shall be processed only after application monies are blocked in the bank accounts of investors (all categories).
4.3.5.1 Payment instructions for Applicants
Applicants should refer to instructions contained in paragraphs 4.1.7.2.
4.3.5.2 Unblocking of ASBA Account
Applicants should refer to instructions contained in paragraph 4.1.7.3.
4.3.5.3 Additional Payment Instructions for UPI Bidders bidding through Designated Intermediaries using the UPI
mechanism
Applicants should refer to instructions contained in paragraph 4.1.7.4.
4.3.5.4 Discount (if applicable)
Applicants should refer to instructions contained in paragraph 4.1.7.5.
4.3.6 FIELD NUMBER 8: SIGNATURES AND OTHER AUTHORISATIONS & ACKNOWLEDGEMENT AND
FUTURE COMMUNICATION
Applicants should refer to instructions contained in paragraphs 4.1.8 & 4.1.9.
4.4 SUBMISSION OF BID CUM APPLICATION FORM/ REVISION FORM/APPLICATION FORM
4.4.1 Bidders/Applicants may submit completed Bid-cum-application form / Revision Form in the following manner:-
Mode of Application Submission of Bid cum Application Form
Anchor Investors
Application Form
To one of the Book Running Lead Managers at the Specified Locations mentioned
in the Bid cum Application Form
Applications from QIBs
and NIIs
(a) To members of the Syndicate in the Specified Locations or Registered Brokers at
the Broker Centres or the CRTAs at the Designated RTA Locations or the CDPs at
the Designated CDP Locations; and
(b) To the Designated Branches of the SCSBs where the ASBA Account is maintained
Applications from RIIs
applying through UPI
mechanism
(a) To members of the Syndicate in the Specified Locations or Registered Brokers at
the Broker Centres or the CRTAs at the Designated RTA Locations or the CDPs at
the Designated CDP Locations; and
Applications from RIIs
applying through non- UPI
mechanism
(a) To the Designated Branches of the SCSBs where the ASBA Account is maintained
(b) To the Brokers providing the facility of linked online trading, demat and bank
account (3-in-1 type accounts) online
(a) Bidders/Applicants should submit the Revision Form to the same Designated Intermediary through which such
Bidder/Applicant had submitted the original Bid.
(b) Upon submission of the Bid-cum-Application Form, the Bidder/Applicant will be deemed to have authorized the
Issuer to make the necessary changes in the RHP and the Bid cum Application Form as would be required for
filing Prospectus with the RoC and as would be required by the RoC after such filing, without prior or subsequent
notice of such changes to the relevant Bidder/Applicant.
(c) Upon determination of the Offer Price and filing of the Prospectus with the RoC, the Bid-cum-Application Form
will be considered as the application form.
28 General Information Document for Investing in Public Issues
Book Building, in the context of the Offer, refers to the process of collection of Bids within the Price Band or above the Floor
Price and determining the Offer Price based on the Bids received as detailed in Schedule XIII of SEBI ICDR
Regulations, 2018. The Offer Price is finalised after the Bid/Offer Closing Date. Valid Bids received at or above the
Offer Price are considered for allocation in the Offer, subject to applicable regulations and other terms and conditions.
5.1 SUBMISSION OF BIDS
(a) During the Bid/Offer Period, ASBA Bidders/Applicants may approach any of the Designated Intermediary to
register and submit their Bids. Anchor Investors who are interested in subscribing for the Equity Shares should
approach one of the Book Running Lead Managers on the Anchor Investor Bidding Date to register and submit
their Bid.
(b) In case of Bidders/Applicants (excluding NIIs and QIBs) bidding at Cut-off Price, the Bidders/Applicants may
instruct the SCSBs or the Sponsor Bank, as applicable, to block Bid Amount based on the Cap Price less discount
(if applicable).
(c) For details of the timing on acceptance and upload of Bids in the Stock Exchanges Platform Bidders/Applicants
are requested to refer to the RHP.
5.2 ELECTRONIC REGISTRATION OF BIDS
(a) The Designated Intermediary may register the Bids using the on-line facility of the Stock Exchanges. The
Designated Intermediaries can also set up facilities for off-line electronic registration of Bids, subject to the
condition that they may subsequently upload the off-line data file into the on-line facilities for Book Building on
a regular basis before the closure of the issue.
(b) On the Bid/Offer Closing Date, the Designated Intermediaries may upload the Bids till such time as may be
permitted by the Stock Exchanges.
(c) Only Bids that are uploaded on the Stock Exchanges Platform would be considered for allocation/ Allotment.
The Designated Intermediaries are given time till 5:00 pm on the Bid/Offer Closing Date to modify select fields
uploaded in the Stock Exchange Platform during the Bid/Offer Period after which the Stock Exchange(s) send
the bid information to the Registrar to the Offer for further processing.
5.3 BUILD UP OF THE BOOK
(a) Bids received from various Bidders/Applicants through the Designated Intermediaries may be electronically
uploaded on the Bidding Platform of the Stock Exchanges“ on a regular basis. The book gets built up at various
price levels. This information may be available with the Book Running Lead Managers at the end of the Bid/
Offer Period.
(b) Based on the aggregate demand and price for Bids registered on the Stock Exchanges Platform, a graphical
representation of consolidated demand and price as available on the websites of the Stock Exchanges may be
made available at the Bidding centres during the Bid/Offer Period.
5.4 WITHDRAWAL OF BIDS
(a) RIIs can withdraw their Bids on the Bid/Offer Closing Date. In case a RII wishes to withdraw the Bid, the same
can be done by submitting a request for the same to the concerned Designated Intermediary, who shall do the
requisite, including unblocking of the funds in the ASBA Account.
(b) The Registrar to the Offer shall give instruction to the SCSB or the Sponsor Bank, as applicable, for unblocking
the ASBA Account upon or after the finalization of basis of Allotment. QIBs and NIIs can neither withdraw nor
lower the size of their Bids at any stage.
5.5 REJECTION & RESPONSIBILITY FOR UPLOAD OF BIDS
(a) The Designated Intermediaries are individually responsible for the acts, mistakes or errors or omission in relation
to
SECTION 5: OFFER PROCEDURE IN BOOK BUILT OFFER
General Information Document for Investing in Public Issues 29
i. the Bids accepted by the Designated Intermediary;
ii. the Bids (including UPI ID, as applicable) uploaded by the Designated Intermediary; and
iii. the Bid cum application forms accepted but not uploaded by the Designated Intermediaries.
(b) The Book Running Lead Managers and their affiliate Syndicate Members, as the case may be, may reject Bids
if all the information required is not provided and the Bid cum Application Form is incomplete in any respect.
(c) The SCSBs or the Sponsor Banks, as applicable, shall have no right to reject Bids, except in case of
unavailability of adequate funds in the ASBA Account or on technical grounds.
(d) In case of QIB Bidders, only the (i) SCSBs (for Bids other than the Bids by Anchor Investors); and (ii) Book
Running Lead Managers and their affiliate Syndicate Members (only in the specified locations) have the right
to reject bids. However, such rejection shall be made at the time of receiving the Bid and only after assigning a
reason for such rejection in writing.
(e) All bids by QIBs, NIIs & RIIs Bids can be rejected on technical grounds listed herein.
(f) All Bids by ASBA Bidders (other than 3-in-1 Bids) above ₹ 500,000, should be uploaded only by the SCSBs.
5.5.1 GROUNDS FOR TECHNICAL REJECTIONS
Bid cum Application Forms/Application Form can be rejected on the below mentioned technical grounds either at the
time of their submission to any of the Designated Intermediaries, or at the time of finalisation of the Basis of Allotment.
Bidders/Applicants are advised to note that the Bids/Applications are liable to be rejected, among other things, on the
following grounds, which have been detailed at various places in this GID:-
(a) Bid/Application by persons not competent to contract under the Indian Contract Act, 1872, as amended, (other
than minors having valid Depository Account as per Demographic Details provided by Depositories);
(b) Bids/Applications of Bidders (other than Anchor Investors) accompanied by cash, draft, cheques, money order
or any other mode of payment other than amounts blocked in the Bidders’ ASBA Account;
(c) Bids/Applications by OCBs;
(d) In case of partnership firms, Bid/Application for Equity Shares made in the name of the firm. However, a limited
liability partnership can apply in its own name;
(e) In case of Bids/Applications under power of attorney or by limited companies, corporate, trust etc., relevant
documents are not being submitted along with the Bid cum application form/Application Form;
(f) Bids/Applications by persons prohibited from buying, selling or dealing in the shares directly or indirectly by
SEBI or any other regulatory authority;
(g) Bids/Applications by any person outside India if not in compliance with applicable foreign and Indian laws;
(h) DP ID and Client ID not mentioned in the Bid cum Application Form/Application Form;
(i) ASBA Account number or UPI ID not mentioned or incorrectly mentioned in the Bid cum Application Form/
Application Form;
(j) In case of Bids by UPI Bidders (applying through the UPI mechanism) through a UPI handle not covered in the
prescribed list of SEBI.
(k) In case of Bids by UPI Bidders (applying through the UPI mechanism) using a bank account of an SCSB or bank
which is not covered in the prescribed list of SEBI.
(l) PAN not mentioned in the Bid cum Application Form/Application Form except for Bids/Applications by or on
behalf of the Central or State Government and officials appointed by the court and by the investors residing in
the State of Sikkim, provided such claims have been verified by the Depository Participant;
(m) In case no corresponding record is available with the Depositories that matches the DP ID, the Client ID and the
PAN;
30 General Information Document for Investing in Public Issues
(n) Bids/Applications for lower number of Equity Shares than the minimum specified for that category of investors;
(o) Bids/Applications at a price less than the Floor Price & Bids/Applications at a price more than the Cap Price;
(p) Bids/Applications at Cut-off Price by NIIs and QIBs;
(q) The amounts mentioned in the Bid cum Application Form/Application Form does not tally with the amount
payable for the value of the Equity Shares Bid/Applied for;
(r) Bids/Applications for amounts greater than the maximum permissible amounts prescribed by the regulations;
(s) Submission of Bid cum Application Forms/Application Form using third party UPI ID or ASBA Bank Account;
(t) Submission of more than one Bid cum Application Form per UPI ID by UPI Bidders bidding through Designated
Intermediaries other than SCSBs (except for RIIs applying as Retail Individual Shareholders also);
(u) Submission of more than one Bid cum Application Form per ASBA Account by Bidders bidding through
Designated Intermediaries (except in case of joint account holders);
(v) In case of joint Bids, submission of Bid cum Application Forms/Application Form using second or third party’s
UPI ID or ASBA Bank Account;
(w) Bids/Applications for number of Equity Shares which are not in multiples of Equity Shares as specified in the RHP;
(x) Multiple Bids/Applications as defined in this GID and the RHP/Prospectus;
(y) Bid cum Application Forms/Application Forms are not delivered by the Bidders/Applicants within the time prescribed
as per the Bid cum Application Forms/Application Form, Bid/Offer Opening Date advertisement and as per the
instructions in the RHP and the Bid cum Application Forms;
(z) Bank account mentioned in the Bid cum Application Form (for Bidders applying through the non-UPI mechanism)
may not be an account maintained by SCSB. Inadequate funds in the ASBA Account to block the Bid/Application
Amount specified in the Bid cum Application Form/ Application Form at the time of blocking such
Bid/Application Amount in the ASBA Account;
(aa) In case of Bids by UPI Bidders (applying through the UPI mechanism), the UPI ID mentioned in the Bid cum
Application Form is linked to a third party bank account;
(bb) In case of Bids by UPI Bidders (applying through the UPI mechanism), the UPI ID is not mentioned in the Bid
cum Application Form;
(cc) In case of Anchor Investors, Bids/Applications where sufficient funds are not available in Escrow Accounts as
per final certificate from the Anchor Escrow Bank;
(dd) Where no confirmation is received from SCSB or the Sponsor Bank, as applicable, for blocking of funds;
(ee) Bids/Applications by QIB and NII Bidders (other than Anchor Investors) not submitted through ASBA process;
(ff) Bid cum Application Form submitted to Designated Intermediaries at locations other than the Bidding Centers
or to the Anchor Escrow Bank (assuming that such bank is not a SCSB where the ASBA Account is maintained), to
the issuer or the Registrar to the Offer;
(gg) Bid cum Application Form submitted physically by RIIs bidding through the non-UPI mechanism to Designated
Intermediaries other than SCSBs;
(hh) Bids/Applications not uploaded on the terminals of the Stock Exchanges;
(ii) Bids/Applications by SCSBs wherein a separate account in its own name held with any other SCSB is not mentioned
as the ASBA Account in the Bid cum Application Form/Application Form.
(jj) The UPI Mandate is not approved by UPI Bidders; and
(kk) The original Bid/Application is made using the UPI mechanism and revision(s) to the Bid/Application is made
using ASBA either physically or online through the SCSB, and vice- versa.
General Information Document for Investing in Public Issues 31
(ll) Bidders are required to enter either the ASBA Bank account details or the UPI ID in the Bid cum Application
Form. In case the Bidder doesn’t provide any of the ASBA Bank account details or the UPI ID then the
application would be rejected. For application submitted to Designated Intermediaries (other than SCSBs),
Bidder providing both the ASBA Bank account details as well as the UPI ID, the UPI ID will be considered for
processing of the application. Applications made using the ASBA facility in initial public offerings (opening on
or after September 1, 2022) shall be processed only after application monies are blocked in the bank accounts of
investors (all categories).
(mm) UPI Bidders shall ensure that the bank, with which they have their bank account, where the funds equivalent to
the application amount is available for blocking, has been notified as Issuer Banks for UPI. A list of such banksis
available on SEBI website – www.sebi.gov.in:
Home » Intermediaries/Market Infrastructure Institutions » Recognised Intermediaries » Self Certified Syndicate
Banks eligible as Issuer Banks for UPI
(nn) In case of revision of Bids by UPI Bidders, if UPI Mandate Request for the revised Bid is not approved, the
Application is liable to be rejected.
(oo) UPI Bidders whose application sizes are up to ₹ 5 lakhs have not made their Bids through the UPI Mechanism.
5.6 BASIS OF ALLOCATION
(a) The SEBI ICDR Regulations specify the allocation or Allotment that may be made to various categories of
Bidders/Applicants in an Offer depending on compliance with the applicable eligibility conditions. Certain details
pertaining to the percentage of Offer size available for allocation to each category is disclosed overleafof the
Bid cum Application Form and in the RHP / Prospectus. For details in relation to allocation, the Bidder/ Applicant
may refer to the RHP / Prospectus.
(b) Under-subscription in any category (except QIB category) is allowed to be met with spill-over from any other
category or combination of categories at the discretion of the Issuer and in consultation with the Book Running
Lead Managers and the Designated Stock Exchange and in accordance with the SEBI ICDR Regulations.
Unsubscribed portion in QIB Category is not available for subscription to other categories.
(c) In case of under subscription in the Net Offer, spill-over to the extent of such under-subscription may be
permitted from the Reserved Portion to the Net Offer. For allocation in the event of an under-subscription
applicable to the Issuer, Bidders/Applicants may refer to the RHP.
(d) Illustration of the Book Building and Price Discovery Process
Bidders should note that this example is solely for illustrative purposes and is not specific to the Offer; it also
excludes Bidding by Anchor Investors.
Bidders can bid at any price within the price band. For instance, assume a price band of ₹ 20 to ₹ 24 per share,
issue size of 3,000 equity shares and receipt of five bids from Bidders, details of which are shown in the table
below. The illustrative book given below shows the demand for the equity shares of the issuer at various prices
and is collated from bids received from various bidders.
Bid Quantity Bid Amount (₹) Cumulative Quantity Subscription
500 24 500 16.67%
1,000 23 1,500 50.00%
1,500 22 3,000 100.00%
2,000 21 5,000 166.67%
2,500 20 7,500 250.00%
The price discovery is a function of demand at various prices. The highest price at which the Issuer is able
to offer the desired number of equity shares is the price at which the book cuts off, i.e., ₹ 22.00 in the
above example. The issuer, in consultation with the Book Running Lead Managers, may finalise the
Offer Price at or below such cut-off price, i.e., at or below ₹ 22.00. All bids at or above this Offer Price and
cut-off bids are valid bids and are considered for allocation in the respective categories.
32 General Information Document for Investing in Public Issues
(e) Alternate Method of Book Building
In case of FPOs, Issuers may opt for an alternate method of Book Building in which only the Floor Price is
specified for the purposes of Bidding (“Alternate Book Building Process”).
The Issuer may specify the Floor Price in the RHP or advertise the Floor Price at least one Working Day prior
to the Bid/Offer Opening Date. QIBs may Bid at a price higher than the Floor Price and the Allotment to the QIBs
is made on a price priority basis. The Bidder with the highest Bid Amount is allotted the number of Equity Shares
Bid for and then the second highest Bidder is Allotted Equity Shares and this process continues until all the Equity
Shares have been allotted. RIIs, NIIs (bidding for an amount of up to ₹ 10 lakhs) and Employees are Allotted
Equity Shares at the Floor Price and allotment to these categories of Bidders is made proportionately. If the
number of Equity Shares Bid for at a price is more than available quantity then the Allotment may be done on a
proportionate basis. Further, the Issuer may place a cap either in terms of number of specified securities or
percentage of issued capital of the Issuer that may be Allotted to a single Bidder, decide whether a Bidder be
allowed to revise the bid upwards or downwards in terms of price and/or quantity and also decide whether a
Bidder be allowed single or multiple bids.
General Information Document for Investing in Public Issues 33
Applicants may note that there is no Bid cum Application Form in a Fixed Price Offer. As the Offer Price is mentioned
in the Fixed Price Offer therefore on filing of the Prospectus with the RoC, the Application so submitted is considered as
the application form.
Applicants may only use the specified Application Form for the purpose of making an Application in terms of the Prospectus
which may be submitted through the Designated Intermediary.
ASBA Applicants may submit an Application Form either in physical form to the Designated Intermediaries or in the electronic
form to the SCSB or the Designated Branches of the SCSBs authorising blocking of funds that are available in the bank account
specified in the Application Form only (“ASBA Account”). The Application Form is also made available on the websites
of the Stock Exchanges at least one day prior to the Bid/Offer Opening Date.
In a Fixed Price Offer, allocation in the net Offer to the public category is made as follows: minimum fifty per cent to
Retail Individual Investors; and remaining to (i) individual bidders other than Retail Individual Investors; and (ii) other
Applicants including corporate bodies or institutions, irrespective of the number of specified securities applied for. The
unsubscribed portion in either of the categories specified above may be allocated to the Applicants in the other category.
For details of instructions in relation to the Application Form, Bidders/Applicants may refer to the relevant section of the GID.
SECTION 6: OFFER PROCEDURE IN FIXED PRICE OFFER
34 General Information Document for Investing in Public Issues
The Allotment of Equity Shares to Bidders/Applicants other than Retail Individual Investors, Non Institutional
Investors and Anchor Investors may be on proportionate basis. For Basis of Allotment to Anchor Investors,
Bidders/Applicants may refer to RHP/Prospectus. No Retail Individual Investor will be allotted less than the minimum
Bid Lot subject to availability of shares in Retail Individual Investor Category and the remaining available shares, if
any will be Allotted on a proportionate basis. No Non Institutional Investor will be allotted less than the minimum noninstitutional application size subject to availability of shares in Non Institutional Investor Category and the remaining
available shares, if any will be Allotted on a proportionate basis. The Issuer is required to receive a minimum
subscription of 90% of the Offer (excluding any Offer for Sale of specified securities). However, in case the Offer is
in the nature of Offer for Sale only, then minimum subscription may not be applicable.
7.1 ALLOTMENT TO RIIs
Bids received from the RIIs at or above the Offer Price may be grouped together to determine the total demand
under this category. If the aggregate demand in this category is less than or equal to the Retail Category at or
above the Offer Price, full Allotment may be made to the RIIs to the extent of the valid Bids. If the aggregate demand
in this category is greater than the allocation in the Retail Category at or above the Offer Price, then the maximum
number of RIIs who can be Allotted the minimum Bid Lot will be computed by dividing the total number of
Equity Shares available for Allotment to RIIs by the minimum Bid Lot (“Maximum RII Allottees”). The Allotment
to the RIIs will then be made in the following manner:
(a) In the event the number of RIIs who have submitted valid Bids in the Offer is equal to or less than Maximum RII
Allottees; (i) all such RIIs shall be Allotted the minimum Bid Lot; and (ii) the balance available Equity Shares, if
any, remaining in the Retail Category shall be Allotted on a proportionate basis to the RIIs who have received
Allotment as per (i) above for the balance demand of the Equity Shares Bid by them (i.e. who have Bid for
more than the minimum Bid Lot).
(b) In the event the number of RIIs who have submitted valid Bids in the Offer is more than Maximum RII Allottees,
the RIIs (in that category) who will then be Allotted minimum Bid Lot shall be determined on the basis of draw
of lots.
7.2 ALLOTMENT TO NIIs
Bids received from NIIs at or above the Offer Price may be grouped together to determine the total demand under
this category. The Allotment to all successful NIIs may be made at or above the Offer Price. If the aggregate
demand in this category is less than or equal to the Non-Institutional Category at or above the Offer Price, full Allotment
may be made to NIIs to the extent of their demand. In case the aggregate demand in this category is greater than
the Non-Institutional Category at or above the Offer Price, Allotment may be made on a proportionate basis up to a
minimum of the Non- Institutional Category.
The Equity Shares available for Allocation / Allotment to NIIs under the Non-Institutional Category, shall be subject
to the following: (i) one-third of the portion available to NIIs shall be reserved for applicants with an application size
of more than ₹ 2 lakhs and up to ₹ 10 lakhs, and (ii) two-third of the portion available to NIIs shall be reserved for
applicants with application size of more than ₹ 10 lakhs, provided that the unsubscribed portion in either of the
aforementioned sub-categories may be allocated to applicants in the other sub-category of NIIs. The allotment to each
NII shall not be less than the minimum application size for the NII portion, subject to the availability of Equity Shares
in the Non-Institutional Category, and the remaining Equity Shares, if any, shall be allotted on a proportionate basis.
7.3 ALLOTMENT TO QIBs
For the Basis of Allotment to Anchor Investors, Bidders/Applicants may refer to the SEBI ICDR Regulations or
RHP / Prospectus. Bids received from QIBs Bidding in the QIB Category (net of Anchor Portion) at or above the Offer
Price may be grouped together to determine the total demand under this category. The QIB Category may be
available for Allotment to QIBs who have Bid at a price that is equal to or greater than the Offer Price. Allotment may
be undertaken in the following manner:
SECTION 7: ALLOTMENT PROCEDURE AND BASIS OF ALLOTMENT
General Information Document for Investing in Public Issues 35
(a) In the first instance allocation to Mutual Funds for up to 5% of the QIB Category may be determined as follows:
(i) In the event that Bids by Mutual Fund exceeds 5% of the QIB Category, allocation to Mutual Funds may be
done on a proportionate basis for up to 5% of the QIB Category; (ii) In the event that the aggregate demand from
Mutual Funds is less than 5% of the QIB Category then all Mutual Funds may get full allotment to the extent
of valid Bids received above the Offer Price; and (iii) Equity Shares remaining unsubscribed, if any and not
allocated to Mutual Funds may be available for allotment to all QIBs as set out at paragraph 7.4(b) below.
(b) In the second instance, allotment to all QIBs may be determined as follows: (i) In the event of oversubscription
in the QIB Category, all QIBs who have submitted Bids above the Offer Price may be Allotted Equity Shares on
a proportionate basis for up to 95% of the QIB Category; (ii) Mutual Funds, who have received allocation as per
(a) above, for less than the number of Equity Shares Bid for by them, are eligible to receive Equity Shares on a
proportionate basis along with other QIBs; and (iii) Under-subscription below 5% of the QIB Category, if any,
from Mutual Funds, may be included for allocation to the remaining QIBs on a proportionate basis.
7.4 ALLOTMENT TO ANCHOR INVESTOR (IF APPLICABLE)
(a) Allocation of Equity Shares to Anchor Investors at the Anchor Investor Offer Price will be at the discretion of
the issuer subject to compliance with the following requirements:
i. not more than 60% of the QIB Category will be allocated to Anchor Investors;
ii. one-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being
received from domestic Mutual Funds at or above the price at which allocation is being done to other Anchor
Investors; and
iii. allocation to Anchor Investors shall be on a discretionary basis and subject to:
• a maximum number of two Anchor Investors for allocation up to ₹ 10 crores;
• a minimum number of two Anchor Investors and maximum number of 15 Anchor Investors for
allocation of more than ₹ 10 crores and up to ₹ 250 crores subject to minimum allotment of ₹ 5 crores
per such Anchor Investor; and
• in case of allocation above two hundred fifty crore rupees; a minimum number of five Anchor
Investors and a maximum number of 15 Anchor Investors for allocation up to ₹ 250 crores and an
additional 10 Anchor Investors for every additional ₹ 250 crores or part thereof, subject to minimum
allotment of ₹ 5 crores per such Anchor Investor.
(b) A physical book is prepared by the Registrar on the basis of the Bid cum Application Forms received from Anchor
Investors. Based on the physical book and at the discretion of the issuer in consultation with the BRLMs,
selected Anchor Investors will be sent a CAN and if required, a revised CAN.
(c) In the event that the Offer Price is higher than the Anchor Investor Offer Price: Anchor Investors will be
sent a revised CAN within one day of the Pricing Date indicating the number of Equity Shares allocated to such
Anchor Investor and the pay-in date for payment of the balance amount. Anchor Investors are then required to
pay any additional amounts, being the difference between the Offer Price and the Anchor Investor Offer Price,
as indicated in the revised CAN within the pay-in date referred to in the revised CAN. Thereafter, the Allotment
Advice will be issued to such Anchor Investors.
(d) In the event the Offer Price is lower than the Anchor Investor Offer Price: Anchor Investors who have
been Allotted Equity Shares will directly receive Allotment Advice.
7.5 BASIS OF ALLOTMENT FOR QIBs (OTHER THAN ANCHOR INVESTORS), NIIs AND RESERVED
CATEGORY IN CASE OF OVER-SUBSCRIBED OFFER
In the event of the Offer being over-subscribed, the Issuer may finalise the Basis of Allotment in consultation with
the Designated Stock Exchange in accordance with the SEBI ICDR Regulations.
The allocation may be made in marketable lots, on a proportionate basis as explained below:
(a) Bidders may be categorized according to the number of Equity Shares applied for.
36 General Information Document for Investing in Public Issues
(b) The total number of Equity Shares to be Allotted to each category as a whole may be arrived at on a proportionate
basis, which is the total number of Equity Shares applied for in that category (number of Bidders in the category
multiplied by the number of Equity Shares applied for) multiplied by the inverse of the over-subscription ratio.
(c) The number of Equity Shares to be Allotted to the successful Bidders may be arrived at on a proportionate basis,
which is total number of Equity Shares applied for by each Bidder in that category multiplied by the inverse of
the over-subscription ratio.
(d) In all Bids where the proportionate Allotment is less than the minimum Bid Lot decided per Bidder, the Allotment may
be made as follows: the successful Bidders out of the total Bidders for a category may be determined by a draw
of lots in a manner such that the total number of Equity Shares Allotted in that category is equal to the number of
Equity Shares calculated in accordance with (b) above; and each successful Bidder may be Allotted a minimum of
such Equity Shares equal to the minimum Bid Lot finalised by the Issuer.
(e) If the proportionate Allotment to a Bidder is a number that is more than the minimum Bid Lot but is not a multiple
of one (which is the marketable lot), the decimal may be rounded off to the higher whole number if that decimal
is 0.5 or higher. If that number is lower than 0.5 it may be rounded off to the lower whole number.Allotment to
all Bidders in such categories may be arrived at after such rounding off.
(f) If the Equity Shares allocated on a proportionate basis to any category are more than the Equity Shares Allotted to
the Bidders in that category, the remaining Equity Shares available for allotment may be first adjusted against any
other category, where the Allotted Equity Shares are not sufficient for proportionate Allotment to the successful
Bidders in that category. The balance Equity Shares, if any, remaining after such adjustment may be added to the
category comprising Bidders applying for minimum number of Equity Shares.
7.6 DESIGNATED DATE AND ALLOTMENT OF EQUITY SHARES
(a) Designated Date: On the Designated Date, the Anchor Escrow Bank shall transfer the funds represented by
allocation of Equity Shares to Anchor Investors from the Escrow Accounts, as per the terms of the Cash Escrow
Agreement, into the Public Offer Account with the Bankers to the Offer. The balance amount after transfer to the
Public Offer Account shall be transferred to the Refund Account. Payments of refund to the Bidders applying
in the Anchor Investor Portion shall be made from the Refund Account as per the terms of the Cash Escrow
Agreement and the RHP. On the Designated Date, the Registrar to the Offer shall instruct the SCSBs or the
Sponsor Bank, as applicable, to transfer funds represented by allocation of Equity Shares from ASBA Accounts
into the Public Offer Account.
(b) Issuance of Allotment Advice: Upon approval of the Basis of Allotment by the Designated Stock Exchange, the
Registrar shall upload the same on its website. On the basis of the approved Basis of Allotment, the Issuer shall
pass necessary resolutions and undertake corporate actions to facilitate the Allotment and credit of Equity Shares
to successful Bidders/Applicants. Bidders/Applicants are advised to instruct their Depository Participant to
accept the Equity Shares that may be allotted to them pursuant to the Offer.
Pursuant to confirmation of such corporate actions, the Registrar will dispatch Allotment Advice to the Bidders/
Applicants who have been Allotted Equity Shares in the Offer.
(c) The dispatch of Allotment Advice shall be deemed a valid, binding and irrevocable contract.
(d) Issuer will ensure that: (i) the Allotment of Equity Shares; and (ii) credit of shares to the successful Bidders/
Applicants Depository Account will be completed within five Working Days of the Bid/Offer Closing Date.
General Information Document for Investing in Public Issues 37
8.1 COMPLETION OF FORMALITIES FOR LISTING & COMMENCEMENT OF TRADING
The Issuer may ensure that all steps for the completion of the necessary formalities for listing and commencement
of trading at all the Stock Exchanges are taken within Three Working Days of the Bid/Offer Closing Date.
8.2 GROUNDS FOR REFUND
8.2.1 NON RECEIPT OF LISTING PERMISSION
An Issuer makes an application to the Stock Exchange(s) for permission to deal in/list and for an official quotation of
the Equity Shares. All the Stock Exchanges from where such permission is sought are disclosed in RHP/Prospectus.
The Designated Stock Exchange will be disclosed in the RHP/Prospectus with which the Basis of Allotment may be
finalised.
If the Issuer fails to make application to the Stock Exchange(s) and obtain permission for listing of the Equity Shares,
in accordance with the provisions of Section 40 of the Companies Act, 2013, the Issuer may be punishable with a fine
which shall not be less than ₹ 5 lakhs but which may extend to ₹ 50 lakhs and every officer of the Issuer who is in
default shall be punishable with fine which shall not be less than ₹ 50,000 but which may extend to ₹ 3 lakhs.
If the permissions to deal in and for an official quotation of the Equity Shares are not granted by any of the Stock
Exchange(s), the Issuer may forthwith take steps to refund, without interest, all moneys received from the Bidders/
Applicants in pursuance of the RHP/Prospectus.
If such money is not refunded to Bidders within the prescribed time after the Issuer becomes liable to repay it, then the
Issuer and every director of the Issuer who is an officer in default may, on and from such expiry of such period, be liable
to repay the money, with interest at such rate, as disclosed in the RHP/Prospectus.
8.2.2 NON RECEIPT OF MINIMUM SUBSCRIPTION
If the Issuer does not receive a minimum subscription of 90% of the Net Offer (excluding any offer for sale of specified
securities), including devolvement to the Underwriters, as applicable, the Issuer may forthwith, take steps to unblock
the entire subscription amount received within four days of the Bid/ Offer Closing Date and repay, without interest, all
moneys received from Anchor Investors. This is further subject to the compliance with Rule 19(2) (b)of the SCRR.
In case the Offer is in the nature of Offer for Sale only, then minimum subscription may not be applicable. In case of
under-subscription in the Offer, the Equity Shares in the Offer will be issued prior to the sale of Equity Shares in the
Offer for Sale.
If there is a delay beyond the prescribed time after the Issuer becomes liable to pay or unblock the amount received
from Bidders, then the Issuer and every director of the Issuer who is an officer in default may on and from expiry of
prescribed time period under applicable laws, be jointly and severally liable to repay the money, with interest at the
rate of 15% per annum in accordance with the Companies (Prospectus and Allotment of Securities) Rules, 2014, as
amended.
8.2.3 MINIMUM NUMBER OF ALLOTTEES
The Issuer may ensure that the number of prospective Allottees to whom Equity Shares may be allotted may not be less than
1,000 failing which the entire application monies may be refunded forthwith.
8.2.4 IN CASE OF OFFERS MADE UNDER COMPULSORY BOOK BUILDING
In case an Issuer not eligible under Regulation 6(1) of the SEBI ICDR Regulations comes for an Offer under Regulation 6(2)
of SEBI ICDR Regulations but fails to Allot at least 75% of the Offer to QIBs, in such case full subscription
money is to be refunded.
8.3 MODE OF REFUND
1. In case of ASBA Bids: Within four Working Days of the Bid/Offer Closing Date, the Registrar to the Offer
may give instructions to SCSBs or in case of Bids by UPI Bidders applying through the UPI mechanism to the
Sponsor Bank to revoke the mandate and for unblocking the amount for unsuccessful Bids or for any excess
amount blocked on Bidding.
SECTION 8: INTEREST AND REFUNDS
38 General Information Document for Investing in Public Issues
2. In case of Anchor Investors: Within four Working Days of the Bid/Offer Closing Date, the Registrar to the
Offer may dispatch the refund orders for all amounts payable to unsuccessful Anchor Investors.
3. In case of Anchor Investors, the Registrar to the Offer may obtain from the depositories the Bidders’ bank account
details, including the MICR code, on the basis of the DP ID, Client ID and PAN provided by the Anchor Investors
in their Bid cum Application Forms for refunds. Accordingly, Anchor Investors are advised to immediately
update their details as appearing on the records of their depositories. Failure to do so may result in delays in
dispatch of refund orders or refunds through electronic transfer of funds, as applicable, and any such delay may
be at the Anchor Investors’ sole risk and neither the Issuer, the Registrar to the Offer, the Escrow Collection
Banks, or the Syndicate, may be liable to compensate the Anchor Investors for any losses caused to them due to
any such delay, or liable to pay any interest for such delay. Please note that refunds shall be credited only to the
bank account from which the Bid Amount was remitted to the Escrow Bank.
4. In the case of Bids from Eligible NRI Bidders and FPIs, refunds, if any, may generally be payable in Indian
Rupees only and net of bank charges and/or commission. If so desired, such payments in Indian Rupees may be
converted into U.S. Dollars or any other freely convertible currency as may be permitted by the RBI at the rate of
exchange prevailing at the time of remittance and may be dispatched by registered post. The Company may not
be responsible for loss, if any, incurred by the Bidder/Applicant on account of conversion of foreign currency.
8.3.1 Electronic mode of making refunds for Anchor Investors
The payment of refund, if any, may be done through various electronic modes as mentioned below:
i. NACH – National Automated Clearing House is a consolidated system of ECS. Payment of refund would be done
through NACH for Anchor Investors having an account at any of the centres specified by the RBI where such
facility has been made available. This would be subject to availability of complete bank account details including
Magnetic Ink Character Recognition (MICR) code wherever applicable from the depository. The payment of
refund through NACH is mandatory for Anchor Investors having a bank account at any of the centres where
NACH facility has been made available by the RBI (subject to availability of all information for crediting the
refund through NACH including the MICR code as appearing on a cheque leaf, from the depositories), except
where the applicant is otherwise disclosed as eligible to get refunds through NEFT or Direct Credit or RTGS.
ii. NEFT – Payment of refund may be undertaken through NEFT wherever the branch of the Anchor Investors“ bank is
NEFT enabled and has been assigned the Indian Financial System Code (“IFSC”), which can be linked to the
MICR of that particular branch. The IFSC may be obtained from the website of RBI as at a date prior to the date
of payment of refund, duly mapped with MICR numbers. Wherever the Anchor Investors have registered their
nine- digit MICR number and their bank account number while opening and operating the demat account, the
same may be duly mapped with the IFSC of that particular bank branch and the payment of refund may be made
to the Anchor Investors through this method. In the event NEFT is not operationally feasible, the payment of
refunds may be made through any one of the other modes as discussed in this section.
iii. Direct Credit – Anchor Investors having their bank account with the Refund Banker may be eligible to receive
refunds, if any, through direct credit to such bank account.
iv. RTGS – Anchor Investors having a bank account with a bank branch which is RTGS enabled as per the
information available on the website of RBI and whose refund amount exceeds ₹ 2 lakhs, shall be eligible to
receive refund through RTGS, provided the Demographic Details downloaded from the Depositories contain the
nine digit MICR code of the Anchor Investor“s bank which can be mapped with the RBI data to obtain the
corresponding IFSC. Charges, if any, levied by the Anchor Escrow Bank for the same would be borne by our
Company. Charges, if any, levied by the Anchor Investor“s bank receiving the credit would be borne by the
Anchor Investor.
Please note that refunds through the abovementioned modes shall be credited only to the bank account from which the
Bid Amount was remitted to the Escrow Bank.
For details of levy of charges, if any, for any of the above methods, Bank charges, if any, for cashing such cheques, pay
orders or demand drafts at other centers etc. Bidders/Applicants may refer to RHP/Prospectus.
General Information Document for Investing in Public Issues 39
8.4 INTEREST IN CASE OF DELAY IN ALLOTMENT OR REFUND
In case of (i) any delay in unblocking of amounts in the ASBA Accounts (including amounts blocked through the UPI
Mechanism) for cancelled/ withdrawn/ deleted ASBA Forms, the Bidder shall be compensated at a uniform rate of ₹ 100
per day or 15% per annum of the Bid Amount, whichever is higher from the date on which the request for cancellation/
withdrawal/ deletion is placed in the Stock Exchanges bidding platform until the date on which the amounts are unblocked
(ii) any blocking of multiple amounts for the same ASBA Form (for amounts blocked through the UPI Mechanism), the
Bidder shall be compensated at a uniform rate of ₹ 100 per day or 15% per annum of the total cumulative blocked
amount except the original application amount, whichever is higher from the date on which such multiple amounts were
blocked till the date of actual unblock; (iii) any blocking of amounts more than the Bid Amount, the Bidder shall be
compensated at a uniform rate of ₹ 100 per day or 15% per annum of the difference in amount, whichever is higher from
the date on which such excess amounts were blocked till the date of actual unblock;
(iv) any delay in unblocking of non-allotted/ partially allotted Bids, exceeding four Working Days from the Bid/Offer
Closing Date, the Bidder shall be compensated at a uniform rate of ₹ 100 per day or 15% per annum of the Bid
Amount, whichever is higher for the entire duration of delay exceeding four Working Days from the Bid/ Offer
Closing Date by the SCSB responsible for causing such delay in unblocking. The post Offer BRLM shall be liable for
compensating the Bidder at a uniform rate of ₹ 100 per day or 15% per annum of the Bid Amount, whichever is higher
from the date of receipt of the Investor grievance until the date on which the blocked amounts are unblocked. For the
avoidance of doubt, the provisions of the SEBI circular no. SEBI/HO/CFD/DIL2/CIR/P/2021/2480/1/M dated March
16, 2021, as amended pursuant to SEBI circular no. SEBI/HO/CFD/DIL2/P/CIR/2021/570 dated June 2, 2021, SEBI
Circular No: SEBI/HO/CFD/DIL2/CIR/P/2022/51 dated April 20, 2022 and SEBI Circular No:
SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/76 dated May 30, 2022 and SEBI circular no.
SEBI/HO/CFD/TPD1/CIR/P/2023/140 dated August 9, 2023 shall be deemed to be incorporated in this General
Information Document and in the deemed agreement of the Bank with the SCSBs to the extent applicable.
40 General Information Document for Investing in Public Issues
Unless the context otherwise indicates or implies, certain definitions and abbreviations used in this document may have the
meaning as provided below. References to any legislation, act or regulation may be to such legislation, act or regulation as
amended from time to time. In case of inconsistency in the description of a term mentioned herein below and the description
ascribed to such term in the Red Herring Prospectus, the description as ascribed to such term in the Red Herring Prospectus/
Prospectus shall prevail.
Term Description
Allotment/Allot/
Allotted
The allotment of Equity Shares pursuant to the Offer to successful Bidders/Applicants
Allotment Advice Note or advice or intimation of Allotment sent to the Bidders/Applicants who have been Allotted
Equity Shares after the Basis of Allotment has been approved by the designated Stock Exchanges
Allottee A Bidder/Applicant to whom the Equity Shares are Allotted
Anchor Investor
Allocation Price
The price at which Equity Shares will be allocated to Anchor Investors at the end of the
Anchor Investor Bid/Offer Period in terms of the Red Herring Prospectus and the Prospectus,
which will be decided by the Company, in consultation with the BRLMs
Anchor Escrow
Account
Account opened with the Anchor Collection Bank and in whose favour the Anchor Investors may
transfer money through NEFT/RTGS/direct credit in respect of the Bid Amount when submitting a
Bid
Anchor Escrow Bank Refer to definition of Banker(s) to the Offer
Anchor Investor A Qualified Institutional Buyer, applying under the Anchor Investor Portion in accordance with the
requirements specified in SEBI ICDR Regulations and the Red Herring Prospectus
Anchor Investor
Portion
Up to 60% of the QIB Category which may be allocated by the Issuer in consultation with the BRLM,to
Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion is reserved for
domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above
the price at which allocation is being done to Anchor Investors
Application Form The form in terms of which the Applicant should make an application for Allotment in case of issues
other than Book Built Issues, includes Fixed Price Offer
Application Supported
by Blocked Amount /
ASBA
An application, whether physical or electronic, used by Bidders/Applicants, other than Anchor
Investors, to make a Bid and authorising an SCSB to block the Bid Amount in the specified bank
account maintained with such SCSB and will include amounts blocked by UPI Bidders using the UPI
mechanism
ASBA Account Account maintained with an SCSB which may be blocked by such SCSB or the account of the UPI
Bidders blocked upon acceptance of UPI Mandate Request by UPI Bidders using the UPI Mechanism
to the extent of the Bid Amount of the Bidder/Applicant
Banker(s) to
the Offer/ Anchor
Escrow Bank(s)/
Collecting Banker
The banks which are clearing members and registered with SEBI as Banker to the Offer with
whom the Anchor Escrow Accounts for Anchor Investors may be opened, and as disclosed in
the RHP/ Prospectus and Bid cum Application Form of the Issuer
Basis of Allotment The basis on which the Equity Shares may be Allotted to successful Bidders/Applicants under
the Offer
Bid An indication to make an Offer during the Bid/Offer Period by a prospective Bidder pursuant
to submission of Bid cum Application Form or during the Anchor Investor Bid/ Offer Date by
the Anchor Investors, to subscribe for or purchase the Equity Shares of the Issuer at a price
within the Price Band, including all revisions and modifications thereto. In case of issues undertaken
through the fixed price process, all references to a Bid should be construed to mean an Application
SECTION 9: GLOSSARY AND ABBREVIATIONS
General Information Document for Investing in Public Issues 41
Term Description
Bid Amount The highest value of the optional Bids indicated in the Bid cum Application Form and payable by the
Bidder/Applicant upon submission of the Bid (except for Anchor Investors), less discounts (if
applicable). In case of issues undertaken through the fixed price process, all references to the Bid
Amount should be construed to mean the Application Amount
Bid/Offer
Closing Date
Except in the case of Anchor Investors (if applicable), the date after which the Designated
Intermediaries may not accept any Bids for the Offer, which may be notified in an English national
daily, a Hindi national daily and a regional language newspaper at the place where the registered
office of the Issuer is situated, each with wide circulation. Applicants/Bidders
may refer to the RHP/ Prospectus for the Bid/Offer Closing Date
Bid/Offer
Opening Date
The date on which the Designated Intermediaries may start accepting Bids for the Offer, which
may be the date notified in an English national daily, a Hindi national daily and a regional language
newspaper at the place where the registered office of the Issuer is situated, each with wide
circulation. Applicants/Bidders may refer to the RHP/Prospectus for the Bid/Offer Opening Date
Bid/Offer Period Except in the case of Anchor Investors (if applicable), the period between the Bid/ Offer Opening
Date and the Bid/Offer Closing Date inclusive of both days and during which prospective Bidders/
Applicants (other than Anchor Investors) can submit their Bids, inclusive of any revisions thereof.
The Issuer may consider closing the Bid/ Offer Period for QIBs one working day prior to the Bid/
Offer Closing Date in accordance with the SEBI ICDR Regulations.
Applicants/Bidders may refer to the RHP/Prospectus for the Bid/Offer Period
Bid cum Application
Form
An application form, whether physical or electronic, used by Bidders, other than Anchor Investors, to
make a Bid and which will be considered as the application for Allotment in terms of the Red Herring
Prospectus and the Prospectus
Bidder/Applicant Any prospective investor who makes a Bid/Application pursuant to the terms of the RHP/Prospectus
and the Bid cum Application Form. In case of issues undertaken through the fixed price process, all
references to a Bidder/Applicant should be construed to mean an Bidder/Applicant
Book Built
Process/Book
Building Process/Book
Building Method
The book building process as provided under SEBI ICDR Regulations, in terms of which the
Offer is being made
BRLM / Book
Running Lead
Manager/ Lead
Manager/LM
The Book Running Lead Manager to the Offer as disclosed in the RHP/Prospectus and the Bid
cum Application Form of the Issuer. In case of issues undertaken through the fixed price process,
all references to the Book Running Lead Manager should be construed to mean the Lead
Manager or LM
Broker Centres Broker centres notified by the Stock Exchanges, where Bidders/Applicants can submit the Bid cum
Application Forms to a Registered Broker. The details of such broker centres, along with the names
and contact details of the Registered Brokers are available on the websites of the Stock Exchanges
Business Day Monday to Saturday (except 2nd and 4th Saturday of a month and public holidays)
CAN/Confirmation of
Allotment Note
The note or advice or intimation sent to each successful Bidder/Applicant indicating the Equity Shares
which may be Allotted, after approval of Basis of Allotment by the Designated Stock Exchange
Cap Price The higher end of the Price Band, above which the Offer Price and the Anchor Investor Offer
Price may not be finalised and above which no Bids may be accepted
Cash Escrow
Agreement
Agreement to be entered into among the Issuer, the Registrar to the Offer, the Book Running
Lead Managers, the Anchor Escrow Bank and the Refund Bank(s) for collection of the Bid
Amounts from Anchor Investors and where applicable, remitting refunds of the amounts
collected to the Anchor Investors on the terms and conditions thereof
Client ID Client Identification Number maintained with one of the Depositories in relation to demat account
42 General Information Document for Investing in Public Issues
Term Description
Collecting Depository
Participant or CDPs
A depository participant as defined under the Depositories Act, 1996, registered with SEBI and who
is eligible to procure Bids at the Designated CDP Locations in terms of circular no. CIR/CFD/
POLICYCELL/11/2015 dated November 10, 2015 issued by SEBI
Collecting Registrar
and Share Transfer
Agents or CRTAs
Registrar and share transfer agents registered with SEBI and eligible to procure Bids at the Designated
RTA Locations in terms of the Circular on Streamlining of Public Issues
Cut-off Price Offer Price, finalised by the Issuer in consultation with the Book Running Lead Managers, which
can be any price within the Price Band (inclusive of the floor price and cap price). Only RIIs,
Retail Individual Shareholders and employees are entitled to Bid at the Cut-off Price. No other
category of Bidders/Applicants are entitled to Bid at the Cut-off Price
DP Depository Participant
DP ID Depository Participant’s Identification Number
Depositories National Securities Depository Limited and Central Depository Services (India) Limited
Demographic Details Details of the Bidders/Applicants including the Bidder/Applicant’s address, name of the Applicant’s
father/husband, investor status, occupation and bank account details
Designated Branches Such branches of the SCSBs which may collect the Bid cum Application Forms used by Bidders/
Applicants (excluding Anchor Investors) and a list of which is available on http://www.sebi.gov.in/
sebiweb/other/OtherAction.do?doRecognised=yes
Designated CDP
Locations
Such locations of the CDPs where Bidders can submit the Bid cum Application Forms to Collecting
Depository Participants. The details of such Designated CDP Locations, along with names and contact
details of the Collecting Depository Participants eligible to accept Bid cum Application Forms are
available on the respective websites of the Stock Exchanges (www.bseindia.com and www.nseindia.
com)
Designated Date The date on which funds are transferred by the Anchor Escrow Bank from the Anchor Escrow Account
and the amounts blocked by the SCSBs are transferred from the ASBA Accounts, as the case
may be, to the Public Offer Account or the Refund Account, as appropriate, after the Prospectus is
filed with the RoC, following which the board of directors may give delivery instructions for
the transfer of the Equity Shares constituting the Offer for Sale
Designated
Intermediaries /
Collecting Agent
Syndicate Members, sub-syndicate/Agents, SCSBs, Registered Brokers, Brokers, the CDPs and
CRTAs, who are authorized to collect Bid cum Application Forms from the Bidders, in relation to
the Offer
Designated RTA
Locations
Such locations of the CRTAs where Bidders can submit the Bid cum Application Forms to CRTAs.
The details of such Designated RTA Locations, along with names and contact details of the CRTAs
eligible to accept Bid cum Application Forms are available on the respective websites of the Stock
Exchanges (www.bseindia.com and www.nseindia.com)
Designated Stock
Exchange
The designated stock exchange as disclosed in the RHP/Prospectus of the Issuer
Discount Discount to the Offer Price that may be provided to Bidders/Applicants in accordance with the
SEBI ICDR Regulations
Draft Prospectus The draft prospectus filed with SEBI in case of Fixed Price Offer and which may mention a price or
a Price Band
Employees/Eligible
Employees
Employees of an Issuer as defined under SEBI ICDR Regulations and including, in case of a new
company, persons in the permanent and full time employment of the promoting companies excluding
the promoters and immediate relatives of the promoters. For further details, Bidder/Applicant may
refer to the RHP/Prospectus
General Information Document for Investing in Public Issues 43
Term Description
Employees Reserved
Portion
Equity Shares reserved for the Eligible Employees
Equity Shares Equity Shares of the Issuer
FCNR Account Foreign Currency Non-Resident Account
First Bidder/Applicant The Bidder/Applicant whose name appears first in the Bid cum Application Form or Revision Form
Fixed Price Offer/
Fixed Price Process/
Fixed Price Method
The Fixed Price process as provided under SEBI ICDR Regulations, in terms of which the Offer
is being made
Floor Price The lower end of the Price Band, at or above which the Offer Price and the Anchor Investor Offer
Price may be finalised and below which no Bids may be accepted, subject to any revision thereto
FPIs Foreign Portfolio Investors as defined under the Securities and Exchange Board of India (Foreign
Portfolio Investors) Regulations, 2019, as amended from time to time
FPO Further public offering
Foreign Venture
Capital Investors or
FVCIs
Foreign Venture Capital Investors as defined and registered with SEBI under the SEBI (Foreign
Venture Capital Investors) Regulations, 2000
IPO Initial public offering
Issuer/Company The Issuer proposing the initial public offering/further public offering as applicable
Maximum RII
Allottees
The maximum number of RIIs who can be Allotted the minimum Bid Lot. This is computed by
dividing the total number of Equity Shares available for Allotment to RIIs by the minimum Bid Lot.
MICR Magnetic Ink Character Recognition – nine-digit code as appearing on a cheque leaf
Mutual Fund A mutual fund registered with SEBI under the SEBI (Mutual Funds) Regulations, 1996
Mutual Funds Portion 5% of the QIB Category (excluding the Anchor Investor Portion) available for allocation to Mutual
Funds only, being such number of equity shares as disclosed in the RHP/Prospectus and Bid cum
Application Form
NACH National Automated Clearing House which is a consolidated system of ECS. Payment of refund would
be done through NACH for Applicants having an account at one of the centres specified by the RBI,
where such facility has been made available. This would be subject to availability of complete bank
account details including Magnetic Ink Character Recognition (MICR) code wherever applicable
from the depository. The payment of refund through NACH is mandatory for Applicants having a
bank account at any of the centres where NACH facility has been made available by the RBI (subject
to availability of all information for crediting the refund through NACH including the MICR code as
appearing on a cheque leaf, from the depositories), except where applicant is otherwise disclosed as
eligible to get refunds through NEFT or Direct Credit or RTGS
NEFT National Electronic Fund Transfer
NRE Account Non-Resident External Account
NRI NRIs from such jurisdictions outside India where it is not unlawful to make an Offer or invitation
under the Offer and in relation to whom the RHP/Prospectus constitutes an invitation to subscribe to
or purchase the Equity Shares
NRO Account Non-Resident Ordinary Account
Net Offer The Offer less reservation portion
Non-Institutional
Investors or NIIs
All Bidders/Applicants, including FPIs which are individuals, corporate bodies and family offices,
that are not QIBs or RIBs and who have Bid for Equity Shares for an amount of more than ₹200,000
(but not including NRIs other than Eligible NRIs)
44 General Information Document for Investing in Public Issues
Term Description
Non-Institutional
Category
The portion of the Offer being such number of Equity Shares available for allocation to NIIs on a
proportionate basis and as disclosed in the RHP/Prospectus and the Bid cum Application Form
Non-Resident A person resident outside India, as defined under FEMA and includes Eligible NRIs, FPIs and FVCIs
registered with SEBI
OCB/Overseas
Corporate Body
A company, partnership, society or other corporate body owned directly or indirectly to the extent of
at least 60% by NRIs including overseas trusts, in which not less than 60% of beneficial interest is
irrevocably held by NRIs directly or indirectly and which was in existence on October 3, 2003 and
immediately before such date had taken benefits under the general permission granted to OCBs under
FEMA
Offer Public issue of Equity Shares of the Issuer including the Offer for Sale, if applicable
Offer for Sale Public Offer of such number of Equity Shares as disclosed in the RHP/Prospectus through an offer for
sale by the Selling Shareholders
Offer Price The final price, less discount (if applicable) at which the Equity Shares may be Allotted to Bidders other
than Anchor Investors, in terms of the Prospectus. Equity Shares will be Allotted to Anchor Investors
at the Anchor Investor Offer Price The Offer Price may be decided by the Issuer in
consultation with the Book Running Lead Manager
Other Investors Investors other than Retail Individual Investors in a Fixed Price Offer. These include individual
applicants other than retail individual investors and other investors including corporate bodies or
institutions irrespective of the number of specified securities applied for
PAN Permanent Account Number allotted under the Income Tax Act, 1961
Price Band Price Band with a minimum price, being the Floor Price and the maximum price, being the Cap Price and includes
revisions thereof. The Price Band and the minimum Bid lot size for the Offer may be decided by the Issuer
in consultation with the Book Running Lead Manager and advertised, at least two working days in case of
an IPO and one working day in case of FPO, prior to the Bid/Offer Opening Date, in English national daily,
Hindi national daily and regional language at the place where the registered office of the Issuer is situated,
newspaper each with wide circulation
Pricing Date The date on which the Issuer in consultation with the Book Lead Manager(s) finalise the Offer Price
Prospectus The prospectus to be filed with the RoC in accordance with Section 26 of the Companies Act, 2013 after the
Pricing Date, containing the Offer Price, the size of the Offer and certain other information
Public Offer Account An account opened with the Banker to the Offer to receive monies from the Anchor Escrow
Account and from the ASBA Accounts on the Designated Date
QIB Category The portion of the Offer being such number of Equity Shares to be Allotted to QIBs on a
proportionate basis
Qualified Institutional
Buyers or QIBs
As defined under SEBI ICDR Regulations
RTGS Real Time Gross Settlement
Red Herring
Prospectus/RHP
The red herring prospectus issued in accordance with Section 32 of the Companies Act, 2013, which
does not have complete particulars of the price at which the Equity Shares are offered and the
size of the Offer. The RHP may be filed with the RoC at least three days before the Bid/ Offer Opening
Date and may become a Prospectus upon filing with the RoC after the Pricing Date. In case of
issues undertaken through the fixed price process, all references to the RHP should be construed to
mean the Prospectus
Refund Account(s) The account opened with Refund Bank(s), from which refunds to Anchor Investors, if any, of the
whole or part of the Bid Amount may be made
Refund Bank(s) Refund bank(s) as disclosed in the RHP/Prospectus and Bid cum Application Form of the Issuer
General Information Document for Investing in Public Issues 45
Term Description
Refunds through
electronic transfer of
funds
Refunds through Direct Credit, NEFT, RTGS or ASBA, as applicable
Registered Broker Stock Brokers registered with the Stock Exchanges having nationwide terminals, other than the
members of the Syndicate
Registrar to the
Offer/ RTO
The Registrar to the Offer as disclosed in the RHP/Prospectus and Bid cum Application Form
Reserved Category/
Categories
Categories of persons eligible for making application/Bidding under reservation portion
Reservation Portion The portion of the Offer reserved for such category of eligible Bidders/Applicants as provided
under the SEBI ICDR Regulations
Retail Individual
Investors/RIIs
Investors who applies or bids for a value of not more than ₹ 200,000 (including HUFs applying
through their karta and eligible NRIs and does not include NRIs other than Eligible NRIs.
Retail Individual
Shareholders
Shareholders of a listed Issuer who applies or bids for a value of not more than ₹ 200,000.
Retail Category The portion of the Offer being such number of Equity Shares available for allocation to RIIs
which shall not be less than the minimum Bid Lot, subject to availability in RII category and the
remaining shares to be Allotted on proportionate basis.
Revision Form The form used by the Bidders in an issue through Book Building Process to modify the quantity of
Equity Shares and/or bid price indicated therein in any of their Bid cum Application Forms or any
previous Revision Form(s)
RoC The Registrar of Companies
SEBI The Securities and Exchange Board of India constituted under the Securities and Exchange Board of
India Act, 1992
SEBI ICDR
Regulations
The Securities and Exchange Board of India (Offer of Capital and Disclosure Requirements)
Regulations, 2018 as amended
Self Certified
Syndicate Bank(s) or
SCSB(s)
The banks registered with the SEBI which offers the facility of ASBA and the list of which is available
on the website of the http://www.sebi.gov.in/sebiweb/other/OtherAction.do? doRecognised=yes
Specified Locations Bidding centres where the Syndicate shall accept Bid cum Application Forms, a list of which is
included in the Bid cum Application Form
Sponsor Bank The Banker to the Offer registered with SEBI which is appointed by the Issuer/Offeror to act as a
conduit between the Stock Exchanges and the National Payments Corporation of India in order to
push the mandate collect requests and / or payment instructions of the UPI Bidders into the UPI
Stock Exchanges/SEs The stock exchanges as disclosed in the RHP/Prospectus of the Issuer where the Equity
Shares Allotted pursuant to the Offer are proposed to be listed
Syndicate The Book Running Lead Manager and the Syndicate Member
Syndicate Agreement The agreement entered into among the Issuer, and the Syndicate in relation to collection of Bid
cum Application Forms by Syndicate Members
Syndicate Member(s)/
SM(s)
The Syndicate Member(s) as disclosed in the RHP/Prospectus
Underwriters The Book Running Lead Manager and the Syndicate Member(s)
Underwriting
Agreement
The agreement amongst the Issuer, and the Underwriters to be entered into on or after the Pricing Date
46 General Information Document for Investing in Public Issues
Term Description
UPI Bidders Individual investors applying as (i) Retail Individual Bidders in the Retail Portion,
(ii) Non Institutional Bidders with an application size of up to ₹500,000 in the Non-Institutional
Portion, and Bidding under the UPI Mechanism through ASBA Form(s) submitted with Syndicate
Members, Registered Brokers, Collecting Depository Participants and Registrar and Share Transfer
Agents.
UPI ID ID created on Unified Payment Interface (UPI) for single-window mobile payment system developed
by the National Payments Corporation of India (NPCI).
UPI Mandate Request A request (intimating the UPI Bidders by way of a notification on the UPI application and by way of
a SMS directing the UPI Bidders to such UPI application) to the UPI Bidders initiated by the Sponsor
Bank to authorise blocking of funds on the UPI application equivalent to Bid Amount and
subsequent debit of funds in case of Allotment
UPI PIN Password to authenticate UPI transaction
Working Day All days on which commercial banks in Mumbai are open for business. In respect of announcement of
Price Band and Bid/Offer Period, Working Day shall mean all days, excluding Saturdays, Sundays
and public holidays, on which commercial banks in Mumbai are open for business. In respect of the
time period between the Bid/Offer Closing Date and the listing of the Equity Shares on the Stock
Exchanges, Working Day shall mean all trading days of the Stock Exchanges,
excluding Sundays and bank holidays, as per circulars issued by SEBI.
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