The prospectus of ‘Noble Ltd.' stated that application has been made to Bombay Stock Exchange for
permission to deal in its shares. The company applied to the said stock exchange and got permission
co deal in its shares. Explain briefly the next step required for raising funds from the public?
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1)Allotment of shares (after obtaining minimum subscription).
EXPLANATION
Share allotment is the creation and issuing of new shares, by a company. New shares can be issued to either new or existing shareholders. Share allotment can have implications for any existing shareholders share proportion. Typically, new shares are allotted to bring on new business partners.
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