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Issue of shares at premium

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 February 2012 There is a Public Ltd co.(not listed) incorporated in current year. Initial capital of the co was issued at par. Now company is planning to issue further shares few to Promoter at PAR and few to outsider at PREMIUM (15 times of par value).

1. Can Co. do so? If yes, is there any special procedure to be followed?
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Ajay Mishra

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Ajay Mishra (Expert)
16 February 2012 Hi,


There is no prohibition for issuing the shares at premium to other but i will suggest you to make pref allotment on different dates.

You must issue shares on pref basis in accordance with the provision of section 81 of the Companies Act, 1956.

Regards
CS Ajay Mishra
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