Application money should be at least __________ of the face value of share.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) - 5%.
Application money should be at least 5% of the face value of share.
Application money should be at least 5% of the face value of the share. For e.g. if a share having face value of ₹100 is issued then minimum ₹5 must be collected by the company on application.