Question

the amount of money which must be raised before alottment of shares

Answer 1

Answer:

⏩⏩✔No allotment shall be made of any share capital of a company offered to the public for subscription, unless the amount stated in the prospectus as the minimum amount which, in the opinion of the Board of directors, must be raised by the issue of share capital in order to provide for the matters specified in clause .⏪⏪⏪✔❤

Answer 2

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This is a minimum amount that must be raised when the shares are offered to the public during the issue of shares. This minimum subscription is generally set by the Board of directors, but it cannot be less than 90% of the issued capital.