Read the following case study and answer the question.

Surya Ltd issued 10,000 equity shares of ₹50 each at a premium of 10%. The company received application for 13,000 shares. The amount was payable as: on application 30%, on allotment 30% plus Premium, on 1st call 10% and Balance on final call. Allotment was made pro-rata for all applicants. Excess application money received is to be adjusted on allotment. Company received all money called except from Manan, an applicant, of 390 shares, Manan Paid only application money. His shares were forfeited and 70% of the forfeited shares were reissued as fully paid for ₹40 each.

Allotment Due реr share will be:

₹20

The correct answer is Option (4) → ₹20.

Par value per share = 50
Premium = 10%
Allotment per share = 30%

Allotment money per share = 50 x 30/100
                                        = 15

Securities premium per share due on allotment = 50 x 10/100
                                                                     = 5

Total amount due on allotment = 15 + 5
                                             = 20