Anticraft Ltd. invited applications for 2,00,000 shares of ₹10 each at ₹2 premium, payable as ₹3/- on application. ₹6 on allotment (including premium) and ₹3/- on Call. Public had applied for 2,70,000 shares out of which application for 20,000 shares were rejected and remaining were allotted on pro-rata basis. Rahul who has been allotted 8000 shares failed to pay allotment and call money. His shares were forfeited and later on re-issued 6,000 shares @ ₹8/- per share as fully paid-up.

Based on the above information, answer Questions.

Identify the number of shares applied by Rahul.

10,000 shares

The correct answer is Option (1) - 10,000 shares.

Applications issued = 200000
Applications received = 270000
Applications rejected = 20000

Remaining applications after rejection = 270000 - 20000
                                                       = 250000

Pro-rata made on 250000 applications
Those who allotted 200000 share applied for 250000.
Rahul allotted 8000 shares means he applied for 250000/200000 x 8000
                                                                   = 10000 shares