What are the conditions related to differential pricing in the public issue of specified securities under Regulations 30 and 128 of the SEBI (ICDR) Regulations, 2018?

An issuer may offer specified securities at different prices, subject to the following: retail individual investors or retail individual shareholders or employees entitled for reservation made under regulation 33 & 130 of the ICDR Regulations, may be offered specified securities at a price not lower than by more than 10% of the price at which net offer is made to other categories of applicants, other than anchor investors; in case of a book-built issue, the price of the specified securities offered to an anchor investor shall not be lower than the price offered to other applicants; In case the issuer opts for the alternate method of book building as specified under ICDR Regulations, 2018, the issuer may offer specified securities to its employees at a price not lower by more than 10% of the floor price. In case of FPO, an additional condition is that in case of a composite issue, the price of the specified securities offered in the public issue may be different from the price offered in rights issue and justification for such price difference shall be given in the offer document. Discount, if any, shall be expressed in rupee terms in the offer document.