31 July 2012
dear all , a public co. cannot issue their shares until 90% of minimum subscription received. how we calculate 90% is it on application money or whole of share value say co.co ipo 10k shares @ 100 each and on application rs 10 so minimum subscription will be 10k*10*90% = 90000 plz explain
31 July 2012
The minimum shares the company needs to get from the public out of the total issue by the date of closure. (Presently every company need to raise 90% of the issued amount). Else, the company shall refund the whole amount received. This 90 % has to be exclusive of the cheques that are not cleared.
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