Hi,
I have a query regarding calculation of cost of acquistion and period of holding in case a partly paid shares. Recently ICICI Bank issues partly paid shares in FPO in Aug 2007. They have collected money for these shares in two or more different calls. Even these partly paid shares are traded on BSE. Once all the call money is paid these shares will become fully paid. I don't know the actual process how it will happen but i presume my partly paid shares will go and I will get new fully paid shares. Lets presume following example for the calculation.
1) 1-Aug-07 - Paid Rs 100 on application
2) 20-Aug-07 - Got allotment and was asked to deposit further Rs 200 as call money by 30-Aug-07.
3) Call money duly paid on 30-Aug-07.
4) 15-Oct-07 Partly paid shares got listed on BSE.
5) 22-Dec-07, paid last and final call money of Rs 590.
6) 10-Jan-07, got fully paid shares and partly paid shares were taken away OR my partly paid shares were converted to fully paid shares. And these were eligible for trading on stock exchange like already listed shares.
Now if I want to sell these shares some time in future then can you pls tell me how to calculate
a) cost of acquistion of fully paid shares
b) Period of holding of fully paid shares.
Thanks for your help and time.
CAclubindia
