Question:
Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:
Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 110 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made to all the applicants. The amount received on application will be:
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Ensure you multiply the actual number of shares applied for with the issue price to calculate the amount received on application.
Updated On: Jan 18, 2025
- ₹ 52,80,000
- ₹ 55,00,000
- ₹ 50,00,000
- ₹ 48,00,000
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The Correct Option is A
Solution and Explanation
1. Number of shares applied = 48,000 shares.
2. Issue price per share = ₹ 110.
3. Total amount received on application:
\[
\text{Amount Received} = 48,000 \times ₹ 110 = ₹ 52,80,000.
\]
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