What is meant by Anchor Investor? What are the limitations of allocation to anchor investors in the Book building process ?

According to Regulation 2(1)(c) of SEBI (Issue of Capital and Disclosure Requirements) Regulation 2009, "Anchor Investor" means a qualified institutional buyer who makes an application for a value of ₹10 crores or more in a public issue made through the book building process in accordance with these regulations. Allocation to anchor investors shall be on a discretionary basis and subject to the following: Maximum of two such investors shall be permitted for allocation up to ₹10 crores. Minimum of 2 and maximum of 15 such investors shall be permitted for allocation above ₹10 crore and up to ₹250 crore subject to minimum allotment of ₹5 crore per such investors. In case of allocation above ₹250 crore; minimum of five such investors and a maximum of 15 such investors for allocation up to ₹250 crores and an additional 10 such investors for every additional ₹250 crore or part thereof, shall be permitted, subject to a minimum allotment of ₹5 crore per such investors. The bidding for Anchor Investors shall open one day before the issue opening date. Allocation to Anchor Investors shall be completed on the day of bidding by Anchor Investors. Shares allotted to the anchor investor shall be locked-in for 30 days from the date of allotment in the public issue. Up to 60% of the portion available for allocation to QIB shall be available to Anchor Investors for allocation/allotment ("anchor investor portion") and one third of the anchor investor portion shall be reserved for domestic mutual funds.