Section 47: Application and minimum application value

Q: What does Section 47 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations) deal with?

Section 47 ICDR Regulations pertains to "Application and minimum application value". It is part of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, a legislation enacted by the Parliament of India. Section 47 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations) governs application and minimum application value. As verified on 19 May 2026.

Q: Is Section 47 ICDR Regulations still in force?

Yes, Section 47 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 is currently in force across the Republic of India.

Q: What is धारा 47 ICDR Regulations?

धारा 47 ICDR Regulations is the Devanagari Hindi reference for Section 47 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Section 47 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations) governs application and minimum application value. As verified on 19 May 2026.

Q: What is Dhara 47 ICDR Regulations?

Dhara 47 ICDR Regulations is the Roman Hindi reference for Section 47 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. "Dhara" means "Section" in Hindi. Section 47 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations) governs application and minimum application value. As verified on 19 May 2026.

Q: How to cite Section 47 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018?

Cite as: "Section 47, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)" in legal briefs. For academic writing, use the BlueBook format: SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, § 47 (India).

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(1)

A person shall not make an application in the net offer category for a number of specified securities that exceeds the total number of specified securities offered to the public:

Provided that the maximum application by non-institutional investors shall not exceed total number of specified securities offered in the issue less total number of specified securities offered in the issue to qualified institutional buyers.

(2)

The issuer shall stipulate in the offer document the minimum application size in terms of number of specified securities which shall fall within the range of minimum application value of ten thousand rupees to fifteen thousand rupees.

(3)

The issuer shall invite applications in multiples of the minimum application value, an illustration whereof is given in Part B of Schedule XIV.

(4)

The minimum sum payable on application per specified security shall be at least twenty five per cent. of the issue price:

Provided that in case of an offer for sale, the full issue price for each specified security shall be payable at the time of application.

Explanation: For the purpose of this regulation, "minimum application value " shall be with reference to the issue price of the specified securities and not with reference to the amount payable on application.