While issuing the share capital for public subscription, the application money should be at least.......% of the face value of the share.
Answer & explanation
Correct answer: option 2
The correct answer is option 2- 5%.
Application money should be at least 5% of the face value of the share. For e.g. if a share having a face value of ₹100 is issued then a minimum ₹5 must be collected by the company on application.