This document discusses book building, which is a process used to determine the price of shares offered during an Initial Public Offering (IPO). Book building involves soliciting demand from prospective shareholders at various price levels to discover the market price. It is a common practice in developed markets and is becoming more common in emerging markets. The document outlines the book building process in India, including appointing a book runner, filing a draft prospectus, price discovery through bidding, and deciding on allocations and allotments after bidding closes. It also defines types of investors in book building and the two types of public issues - fixed price and book built.