A company cannot issue equity shares at.................generally.

Discount

The correct answer is option 3- Discount.

A company cannot issue equity shares at discount generally.

As per companies Act 2013, a company shall not issue shares at a discount except as provided in section 54 for issue of sweat equity shares. Any share issued by a company at a discounted price shall be void. Where a company contravenes the provisions of this section, the company shall be punishable.