(1)

The issuer may make reservations on a competitive basis out of the issue size excluding promoters' contribution in favour of the following categories of persons:

(a) employees;

(b) shareholders (other than promoters and promoter group) of listed subsidiaries or listed promoter companies:

(2)

In a further public offer, other than in a composite issue, the issuer may make a reservation on a competitive basis out of the issue size excluding promoters' contribution r for the existing retail individual shareholders of the issuer

(3)

The reservations on competitive basis shall be subject to following conditions:

(a) the aggregate of reservation for employees shall not exceed five per cent. of the post-issue capital of the issuer and the value of allotment to any employee shall not exceed two lakhs rupees:

(b) reservation for shareholders shall not exceed ten per cent. of the issue size;

(c) no further application for subscription in the net offer can be made by persons (except an employee and retail individual shareholder of the listed issuer and retail individual shareholders of listed subsidiaries of listed promoter companies) in favour of whom reservation on a competitive basis is made;

(d) any unsubscribed portion in any reserved category may be added to any other reserved category/categories and the unsubscribed portion, if any, after such inter-se adjustments amongst the reserved categories shall be added to the net offer category;

(e) in case of under-subscription in the net offer category, spill-over to the extent of under-subscription shall be permitted from the reserved category to the net public offer.

(4)

An applicant in any reserved category may make an application for any number of specified securities, but not exceeding the reserved portion for that category.