Rudra ltd. Issued a prospectus inviting the public to subscribe for its shares it came up with public issues for Rs. 20 crores of 20 Lakh shares worth Rs. 100 each it received applications for 16 Lakh shares should the company proceed with the allotment of shares
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No the company must receive applications for atleast 18 lakh shares.(minimum subscription ie. 90% of the total issue)
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