Printkit Limited invited applications for issue of 80,000 equity shares of Rs 10 each. The amount was payable as follows:
- On Application: ₹ 3 per share
- On Allotment: ₹ 2 per share
- On First and Final Call: Balance
Applications for 1,50,000 shares were received. Applications for 10,000 shares were rejected, and pro-rata allotment was made to the remaining applicants as follows:
- Category A: Applicants for 80,000 shares were allotted 40,000 shares.
- Category B: Applicants for 60,000 shares were allotted 40,000 shares.
Excess money received on application was adjusted toward the amount due on allotment and first and final call. All the amounts due on allotment and first and final call were duly received