Arun Ltd. issued 1,00,000 equity shares. The whole of the issue was underwritten as follows: X: 40%;
Question:
Arun Ltd. issued 1,00,000 equity shares. The whole of the issue was underwritten as follows:
X: 40%; Y: 40%; Z: 20%
Applications for 80,000 shares were received in all; out of which, applications for 20,000 shares had the stamp of X, those for 10,000 shares that of Y and 20,000 shares that of Z.
The remaining applications did not bear any stamp. Show the liability of the underwriters.
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To calculate the liability of each underwriter we need to determine the number of shares they have u...View the full answer
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