Read the passage given below carefully and answer the questions given below on the basis of the information.

Nidiya limited was incorporated on 1st April, 2017 with registered office in Mumbai. The capital clause of Memorandum of Association reflected a registered capital of 8,00,000 equity shares of  ₹10 each and 1,00,000 preference shares of  ₹50 each.
Since some large investments were required for building and machinery the company in consultation with vendors, Ms.VPS Enterprises, issued 1,00,000 equity shares and 20,000 preference shares at par to them in full consideration of assets acquired. Besides this the company issued 2,00,000 equity shares for cash at par payable as Rs 3 on application, 2 on allotment, 3 on first call and 2 on second call.
Till date second call has not yet been made and all the shareholders have paid except Mr. Ajay who did not pay allotment and calls on his 300 shares and Mr. Vipul who did not pay first call on his 200 shares. Shares of Mr. Ajay were then forfeited and out of them 100 shares were reissued at  ₹12 per share.

How many equity shares of the company have been subscribed?

2,99,800

The correct answer is option 3- 2,99,800.

Equity Shares Issued to Vendor for assets = 1,00,000
Equity Shares Issued for cash = 2,00,000
Equity Shares Forfeited = 300
Reissued out of forfeited shares =100
Total Equity shares to be shown under subscribed share capital = 1,00,000 + 2,00,000 - 300 + 100
                                                                                                     = 2,99,800