Explain the restrictions on allotment under qualified institutional placement for due diligence.

Regulation 86 - Restrictions on allotment of the SEBI (ICDR) Regulations provides as under: Allotment under the qualified institutional placement shall be made subject to the following conditions: Minimum of ten per cent of eligible securities shall be allotted to mutual funds: If the mutual funds do not subscribe to said minimum percentage or any part thereof, such minimum portion or part thereof may be allotted to other qualified institutional buyers; No allotment shall be made, either directly or indirectly, to any qualified institutional buyer who is a promoter or any person related to promoters of the issuer: A qualified institutional buyer who does not hold any shares in the issuer and who has acquired the said rights in the capacity of a lender shall not be deemed to be a person related to promoters. In a qualified institutional placement of non-convertible debt instrument along with warrants, an investor can subscribe to the combined offering of non-convertible debt instruments with warrants or to the individual securities, that is, either non-convertible debt instruments or warrants. The applicants in qualified institutional placement shall not withdraw their bids after the closure of the issue.