While issuing share capital for public subscription, the minimum application money should be at least _____% of the nominal face value of the share according to the Companies Act, 2013.
- A
- B
- C
- D
Solution & Step-by-step Explanation
According to Section 39(2) of the Companies Act, 2013, the amount payable on application on every share shall not be less than of the nominal/face value of the share (Note: SEBI guidelines mandate of the issue price for listed entities, but the statutory standard baseline under the Companies Act remains ).