It is to be noted that 'minimum subscription' of capital cannot be less than ............. of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection).

90%

The correct answer is option 2- 90%.

It is to be noted that 'minimum subscription' of capital cannot be less than 90% of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection).

The company is required to attain a minimum subscription within 120 days from the issuance of the prospectus. If this requirement is not met within the specified time frame, the company cannot proceed with the allotment of shares, and it must refund the application money within 130 days from the prospectus issuance date. It's important to note that as per SEBI (Disclosure and Investor Protection) Guidelines, 2000 [6.3.8.1 and 6.3.8.2], the minimum subscription of capital cannot be less than 90% of the total amount offered.