When the number of shares subscribed is less than what is offered, how is it reflected in the company's books?

It is not reflected in the books

When the number of shares subscribed is less than what is offered, it is typically not reflected as a separate item in the company's books. In other words, the fact of under-subscription (when fewer shares are subscribed than initially offered) is generally not separately recorded in the company's financial records or accounts. It's important to note that while the under-subscription is not explicitly reflected in the books, companies may make notes in their records or disclosures to indicate the discrepancy between the shares offered for subscription and those actually subscribed.