Shares
This query is : Resolved
26 August 2015
respected experts,
it is written in guideline of sebi that a company must receive minimum of 90% of subscription against entire issue before making allotment and in next para it is written sebi regulation that application money to be paid by applicants along with application money shall not be less than 25% if the issue price. may I have a clear description about this.
thanks
it is written in guideline of sebi that a company must receive minimum of 90% of subscription against entire issue before making allotment and in next para it is written sebi regulation that application money to be paid by applicants along with application money shall not be less than 25% if the issue price. may I have a clear description about this.
thanks
Amol S Joglekar
(Expert)
26 August 2015
try to note the minute difference between
A. Subscription and
B. Application money
If the issue is SUBSCRIBED for less than 90%, the company can not proceed on ALLOTTMENT
A. Subscription and
B. Application money
If the issue is SUBSCRIBED for less than 90%, the company can not proceed on ALLOTTMENT
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Amol S Joglekar
(Expert)
27 August 2015
Sorry to note that you are NOT focussing on the difference between the 2 situation.
Let me try explaining once again
The first situation is applicable for subscribing of shares by the PUBLIC. Take this as QUANTITY... say 100 shares issued...out of that 90 are subscribed by PUBLIC
The second situation deals with VALUE. Say a share of Face Value 10 issued at PAR, minimum of Rs.2.5 must be received on application.
Try to read both in separate context.
Let me try explaining once again
The first situation is applicable for subscribing of shares by the PUBLIC. Take this as QUANTITY... say 100 shares issued...out of that 90 are subscribed by PUBLIC
The second situation deals with VALUE. Say a share of Face Value 10 issued at PAR, minimum of Rs.2.5 must be received on application.
Try to read both in separate context.
Message likes :
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Amol S Joglekar
(Expert)
28 August 2015
you are most welcome.
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.
.
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