Face Value of Equity Shares in IPO

Kalpesh, generally at the time of issuance company keep the face value 10 and then basis of it they fix IPO price.

If they feel that the valuation per share is high or it's rate is going above like 400 or 500 in that case some company fix lower face value so that to keep the price low. 

It will be true that generally at the time of issuance company keep the face value 10 and then basis of it they fix IPO price.