More anchor investors allowed for IPOs above ` 250 crores

The SEBI board relaxed the restrictions on the maximum number of anchor investors (currently 25) in public issues worth over 250 crore.While the requirement of the number of anchor investors for allocation of up to 250 crore remains the same, in case of allocations beyond 250 crore, there can be 10 additional investors for every additional allocation of 250 crore, subject to a minimum allotment of 5 crore an anchor investor.Shares allotted through anchor investors will have a lockin period of 30 days from the date of allotment in the public issue An anchor investor refers to a qualified institutional buyer (QIB) who makes an application for a value of 10 crore or more through the book building process.