Can amount of premium in fraction

prakash (Company Secretary) (1352 Points)

09 September 2014  

Dear All,

Can company issue 5 equity shares of face value of Rs. 10 at Rs, 18.10 including premium of Rs. 8.10 per equity shares aggregating to Rs. 90.50.

My intention is to know whether premium amount can be in fraction.

i feel premium can be in fraction but not the face value.