Hello All,
In Nov 2007 MAFA exam, there was a question on Green share! Is this Green shoe or Green share???
Cheers,
Vikram
8 Replies
Late CA Sampat Jain
(Chartered Accountant)
(4772 Points)
Replied 14 November 2007
It appears that the booming index prompted the printer to think of shares only
KAAPIL
(COACHING )
(11717 Points)
Replied 14 November 2007
Dear Vikram,
Please do not make a big issue as ICAI expects that CA FINAL studetns know the correct term. If they do not, they are not fit to be in CA FINAL.
I am not blaming you or favouring ICAI but to handle such a big system and a mistake which is also of a word and not of a term. Had it been Black Share or Blue Share, it is still a BIG MISTAKE. You will not believe but around 80 students told me that Sir, it was Green Shoe and not Green Share. I asked them what did you write? They told me Green Share. Then the matter ends there. Please understand the pain that goes in amking the papaer and the pain that all our students take in writing. ICAI will consider the case if there is Gross Negligence. How can we make an issue of a thing which is not even negligence but an error which is an error. If you need an apology I will give but do not make an issue. ICAI is world class body at sevice of its members and students.
JAIHIND
JAIi ICAI
JAI CACLUB
Navin
(Audit Assistant)
(56 Points)
Replied 14 November 2007
Dear Kapil Sir,
I agree with you. But I still think an error is an error. and ICAI WAS BOUND to correct it on the exam day no matter how big the system or how silly the mistake. Will ICAI accept the argument that student made a mistake just because he was in tension.
That ICAI is a world class body has nothing to do with this discussion. Please Dont confuse your love & loyalty for the institute with this issue. We all love our institute and expect it to be worldclass not only in thoughts but also in deeds.
Indira Singh
(Chartered Accountant)
(87 Points)
Replied 14 November 2007
i donot know why we discussing green shoe aur green share too much. Being a professional like CA the trem must be clear to all of us. For more understanding i am sending the definition of Green shoe option
A green shoe option is a clause contained in the underwriting agreement of an initial public offering (IPO). The green shoe option, which is also often referred to as an over-allotment provision, allows the underwriting syndicate to buy up to an additional 15% of the shares at the offering price if public demand for the shares exceeds expectations and the stock trades above its offering price.
The green shoe option provides extra incentive for the underwriters of a new stock offering. In addition, these investment banks, brokerages and other financing parties also often exercise the green shoe option to cover some of the short position they may have created in an effort to maintain a stable market after a new stock begins to trade, as well as to meet aftermarket demand.
Vikram Nagpal
(Employed)
(155 Points)
Replied 14 November 2007
Kapil, Let me be VERY clear here, I am not blaming ICAI. But considering the fact, that it is a world class body, they should be very careful when it comes to examinations. And, it is ICAI's DUTY to correct any mistakes. Let's not shirk duties. And, we never asked for the definition.
And why do you think I will ask for an apology?? Please understand the context before making remarks so that you sound professional. I respect ICAI from the core of my heart that is why I want to become a CA. ICAI is the best, no secon thoughts there.
Thanks,V
(Guest)
it was definitely green share my dear.
the concept is, it is an option related with the shares of a company, due to which the company as well as the shareholder, whenever they wish, can get their shares buybacked. the co. ca purchase its shares at any time and the shareholder can sell his share to co. any time. it is not popular in india yet
Vikram Nagpal
(Employed)
(155 Points)
Replied 14 November 2007
Whew, thanks for letting me know. Much appreciated. I just lost 5 marks :-)
Regards
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