Question

Minimum subscription must be raised within _______ days.

• A. 90
• B. 100
• C. 120
• D. 150

Answer 1

Answer: (C)

120

If applications received for the shares are for an amount less than 90 per cent of the issue size or if the company did not get minimum subscription within 120 days, the allotment cannot be made and the application money received must be returned to the applicants.