Individual investors, NRIs, companies, trusts, etc. who bid more than Rs 2 Lakhs are called Non-institutional bidders. They are similar to the RII category and do not need to register with SEBI. Book Build IPO's allow non-institutional bidders to be allocated 15% of the total issue.
Please note that the NII category cannot be eligible for any retail discount.
Regulation 2(1)(zd), which is the SEBI Regulations, applies to qualified institutional buyers. They must be registered with SEBI.