face value of share
This query is : Resolved
08 March 2011
Dear all,
I would like to know when a company go for an issue (ipo or fpo) can it fix its share value/ face value in a fractional denomination, say for example rs. 2.5 or 5.5 and all. If not would you please substantiate it with the concerned act, rules or regulations.
I would like to know when a company go for an issue (ipo or fpo) can it fix its share value/ face value in a fractional denomination, say for example rs. 2.5 or 5.5 and all. If not would you please substantiate it with the concerned act, rules or regulations.
08 March 2011
The shares cannot be issued in the denomination of decimal of a rupee. For more details please refer:
http://www.sebi.gov.in/circulars/1999/CIRMB02-99.html#PART%20B
http://www.sebi.gov.in/circulars/1999/CIRMB02-99.html#PART%20B
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