A Company invited applications for 1,00,000 shares and it received applications for 1,50,000 shares. Applications for 30,000n shares were rejected and the remaining were allotted shares on pro rata basis. How many shares an applicant for 3,000 will be allotted
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1, 23, 000 is the answer....
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Applications invited = 1,00,000 shares
Applications received = 1,50,000 shares
Applications rejected = 30,000 shares
Applicant’s allotted shares = Applications received - Applications rejected
= 1,50,000 – 30,000 = 1,20,000
Shares Allotted = 1,00,000
Share Allotment ratio = 1,20,000 : 1,00,000
= 6 : 5
This means people who applied for 6 shares were allotted 5 shares
An Applicant who applied for 3000 shares were allotted 3000 x (5 ÷ 6) shares
= 500 x 5
= 2,500 shares
So applicant for 3,000 shares was allotted 2,500 shares.
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