Question:
Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 12 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made for all the applications. The amount received against the applications is:
Alfa Ltd. offered for public subscription 50,000 equity shares of ₹ 10 each at ₹ 12 per share. The entire amount was payable on application. Applications were received for 48,000 shares and allotment was made for all the applications. The amount received against the applications is:
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The amount received from applications is calculated by multiplying the number of shares applied for by the total price per share (inclusive of the premium, if any).
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
The amount received from the applications is calculated as:
\[
\text{Amount received} = 48,000 \times 11 = ₹ 52,80,000
\]
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