Alternative Eligibility & Allotment

If any issuer co. is intending to list its securities on the St. Exchange through the Alternative Eligibility Requirements i.e. (Mandatorily through Book Building Process & at least 75% to QIBs). Supposing that the co. has successfully alloted 75% to QIBs and rest of the 15% to NIIs and 10% to RIIs but if the total number of allottees do no reach 1,000 in number then will the issue be successful?

No. The issuer shall not make an allotment pursuant to a public issue if the number of prospective allottees is less than 1,000.

Answer given by Shubhamm Sir at 01-May-2023 06:34 PM