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Minimum sh application money

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2012 Issued 6000 shares of Rs 100/share at a premium of 40%. what is the minimum application amount to be collected per share??? plz give the required details as to minimum % to be collected ?
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CS Divya Sorayan

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CS Divya Sorayan (Expert)
14 July 2012 As per SEBI guidelines, minimum 90% of the issued amount of shares shud be subscribed by the public otherws allotment cant be made n amount received wl be cancelled n d company shal have to return the amount received to the public due to non compliance of basic condition of issue of shares.
for more info read:
https://www.indiankanoon.org/doc/584583/
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 Dear Divya,

Thanks for your reply, apart from minimum subscription, i'd also like to know about the minimum sh. application amount to be received by the company for one particular share. as per the companies act, the minimum % is levied for receiving the sh. application amount, cud u plz tell me dat % ?????
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
04 August 2012
This is depending upon the lot size fixed by the company at the time of IPO.
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