Yes. The minimum level of subscription for an issue may be determined by the Issuer/Promoter and stated in the Offer Documents2. However, where a minimum level of subscription for issuance has not been stated in the Offer Documents, the minimum subscription level shall be 50% of the amount approved by the Issuer’s Board of Directors (where applicable). Where the level of subscription is below the minimum level stated in the offer documents or below 50% of the approved issue size, the IPCA/IPA, shall prior to an allotment, provide a signed
attestation that investors have been made aware of this fact, failing which, the Issue shall be aborted.