Section 79

Issuance of shares at premium is the most prevalent mode of issue by reputed and well establishment companies.

As per SEBI guidelines, New companies can issue shares at premium provided the following conditions are fulfilled:

The promoter company has a 3 years of consistent record of profitable working.

The Promoter takes atleast 50 percent of shares issued.

All parties applying to the issue are offered the same instrument at same conditions, especially with regard to Premium.

Thus, If you see the First point of SEBI Guideline, A NEWLY INCORPORATED company cannot issue shares at premium.