Non-Institutional Investors:
These are investors who are neither in the QIB category nor in the retail investors’ category. Therefore, high net worth individuals (HNI) fall into this category.
SEBI issues guidelines which specify the percentage of the total securities offered for each category of investors from time to time. Currently, in any IPO, the allocation is usually as under:
QIB - 50%
HNI - 15%
Retail - 35%