Read the following case and answer the question given below :
After reading an advertisement in the newspaper about an upcoming public issue of preference shares of a pharmaceutical company, Deepanshu made up his mind to invest money in that issue. Later on, he discussed his plan with his friend Chitkarsh, who is a stockbroker. Chitkarsh, on the contrary, advised him to invest in equity instead.
Give any three reasons to invest in equity and not in preference shares.