Samsang limited is engaged in manufacture mobile. Considering the prospects of high growth in this segment the company has decided to expand and for this purpose additional investment of Rs.10,0000000 is required. Directors have decided that 20% of the requirement would be financed by issuing debentures and balance by issue of equity shares. As per memorandum of association of the company the face value of equity shares is Rs.100 each. Also, considering the market standing of the company these shares would be issued at a premium 25%. Directors decided to issue sufficient shares to collect the desired amount (including premium) The prospectus was issued to public and the issue was oversubscribed by 40000 shares which were issued letters of regret. Answer the below mentioned questions considering that the entire amount was payable on application.
Q. What is the total amount collected on application? (a) 8,50,00,000 (b) 8,00,00,000 (c) 6,50,00,000 (d) None
Q. How many Equity shares were offered for issue by Samsung Ltd. (a) 650000 shares (b) 500000 shares (c) 700000 shares (d) 640000 shares
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