Akshat Co Ltd Share Issue Quiz & Flashcards

Study Notes

Akshat Co. Ltd. issued 10,000 equity shares of Rs 10 each. Application: Rs 2, Allotment: Rs 4, First call: Rs 3, and Second/Final call: Rs 1. Received applications for 15,000 shares; 5,000 rejected; full payment received.
Bandekar Industries issued 60,000 equity shares of Rs 100 each. Application: Rs 20, Allotment: Rs 30, First call: Rs 25, and Second/Final call: Rs 25. Received applications for 75,000 shares and full payment; excess applied funds adjusted against allotment.
Manish and Co. Ltd. issued 40,000 equity shares of Rs 20 each, with a Rs 5 premium. Application: Rs 5, Allotment (including premium): Rs 15, First call: Rs 3, and Second/Final call: Rs 2. Received applications for 50,000 shares; 10,000 rejected, with funds refunded.
Aniket Ltd. issued 40,000 shares of Rs 100 each, with a Rs 10 premium. Application: Rs 20, Allotment (including premium): Rs 40, First call: Rs 30, and Second call: Rs 20. Received applications for 50,000 shares—excess application monies adjusted against allotment.
Modern Chemicals Co. Ltd. issued 60,000 shares of Rs 20 each. Application: Rs 5, Allotment: Rs 5, First call: Rs 4, and Second call: Rs 3. Received applications for 65,000 shares—5,000 rejected; adjusted against allotment.
Mahalaxmi Industries issued 15,000 shares of Rs 100 each. Application: Rs 20, Allotment: Rs 30, First call: Rs 25, and Second call: Rs 25. All application were accepted & fully allotted; excess application funds are refunded
Joshi-Patil Ltd. issued 2,000, 10% preference shares of Rs 100 each. Application : Rs 20, Allotment Rs 40 & Final call. 2,000 shares allotted, 500 shares rejected and refunds made.
Yogeshwari Co. Ltd. issued 20,000 equity shares of Rs 20 each. Application: Rs 5, Allotment: Rs 10, First call: Rs 3, and Second/Final call: Rs 2. Received applications for 25,000 shares; 5,000 rejected; excess application adjusted against allotment.
Khandelwal Co. Ltd. issued 40,000 equity shares of Rs 20 each, at a discount. Application: Rs 5, Allotment: Rs 8, First call: Rs 3, and Second/Final call: Rs 2. Applications for 45,000 shares; 5,000 rejected and funds refunded.
Milind and Co. Ltd. issued 20,000 equity shares of Rs 100 each, at a discount of Rs 5. Application: Rs 20, Allotment: Rs 3, First call: Rs 25, and Second call: Rs 20. 30,000 applications; 10,000 rejected & adjusted against allotment; full payment received. Issue expenses totalled Rs 5000.