Z limited had allotted 15000 equity shares to the applicants of 21000 shares on pro-rata basis. The…
With a pro-rata allotment ratio of \(15{,}000 : 21{,}000 = 5 : 7\), an applicant for 630 shares is allotted \(630 \times \frac{5}{7} = 450\text{ shares}\). The excess…
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Z limited had allotted 15000 equity shares to the applicants of 21000 shares on pro-rata basis. The amount payable on application was ₹ 3 per share. Mr. N applied for 630 shares. The number of shares allotted and the amount carried forward for adjustment against allotment money due from him will be _____.
Answer and explanation
Correct answer D
With a pro-rata allotment ratio of , an applicant for 630 shares is allotted . The excess application money on the remaining at ₹ 3 per share is , giving "450 shares; ₹ 540".
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