Before the news of the IPO is made public, a certain portion of the total capital needed by the company is to be provided by the promoters. The balance portion of the capital needed is then raised through public subscription. This portion of the capital to be raised through public subscription is known as the net offer. It is also known as the net public offer.
As per the regulations of SEBI, 75% of the net public offer allocation should be toward institutional investors (without separate allocation to Anchor Investors), and the balance 25% towards non-institutional investors.
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