face value of share

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athasi das k (Querist)
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08 March 2011 Dear all,

I would like to know when a company go for an issue (ipo or fpo) can it fix its share value/ face value in a fractional denomination, say for example rs. 2.5 or 5.5 and all. If not would you please substantiate it with the concerned act, rules or regulations.

Rasesh

Rasesh (Expert)
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08 March 2011 The shares cannot be issued in the denomination of decimal of a rupee. For more details please refer:

http://www.sebi.gov.in/circulars/1999/CIRMB02-99.html#PART%20B

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