as per section 39 of companies act, min. subscripttion must be received within30 days of issue of prospectus , but the issue can remain open for max 10 days
only, then how will the said limit of 30 days be applied.?
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minimum subscription
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The issue opening min.3 to max.10 days is for listed comapny
in case of Ipo also , where com is unlisted it shall remain for 3-10 days onlyyy as oer icdr
30 days for min.subscripttion r from issue of prospectus ,however the prospective member shall apply during the offer pd.the application money for which shall be received after expiry of offer pd. But not later than 30 days from issue of prospectus.
investors has to apply along with application money itself.
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