Sebi proposes to restrict slabs for anchor investors
The concept of Anchor Investors (AIs) was introduced in June 2009. AIs were envisaged as a class of investors who come forward to anchor a transaction and were seen as committed investors who can be relied upon to anchor an issue of capital in all market conditions, adverse or otherwise.
Anchor investors are QIB (qualified institutional buyer) who makes an application for a value of R10 crore or more in a public issue made through the book building process. Another requirement that is relevant to the proposal under consideration is that allocation to AIs shall be on a discretionary basis, subject to a minimum two such investors for an allocation of upto R250 crore and five such investors for allocation of more than R250 crore.
Sebi observed that
Be the first to comment.