(1)

The promoters shall contribute in the public issue as follows:

(2)

In case of a public issue or composite issue of convertible securities, the minimum promoters' contribution shall be as follows:

(3)

In case of a further public offer or composite issue where the promoters contribute more than the stipulated minimum promoters' contribution, the allotment with respect to excess contribution shall be made at a price determined in terms of the provisions of regulation 164 or the issue price, whichever is higher.

(4)

In case the promoters have to subscribe to equity shares or convertible securities towards promoters' contribution, the promoters shall satisfy the requirements of this regulation at least one day prior to the date of opening of the issue and the amount of promoters' contribution shall be kept in an escrow account with a scheduled commercial bank and shall be released to the issuer along with the release of the issue proceeds:

Provided further that where the minimum promoters' contribution is more than one hundred crore rupees and the further public offer is for partly paid shares, the promoters shall bring in at least one hundred crore rupees before the date of opening of the issue and the remaining amount may be brought on a pro-rata basis before the calls are made to the public.

(5)

[ The SR equity shares of promoters, if any, shall be eligible towards computation of minimum promoters’ contribution.] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/29, dated 29.7.2019.]

Explanation:

(I) For the purpose of this regulation, promoters' contribution shall be computed on the basis of the postissue expanded capital:

(II) For computation of "weighted average price ":