Harsha Ltd., was registered with authorised capital of Rs. 25,00,000 divided into 2,50,000 Equity Shares of Rs. 10 each. Promoters of the company had undertaken to subscribe 25,000 Equity Shares of Rs. 10 each once the company was incorporated. The amount was paid by the subscribers and received by the company.
The company later issued at par 2,00,000 shares to public for subscription. It received applications for 1,80,000 Equity Shares both through ASBA and physical mode. Shares were allotted to all the applicants.
Determine the Authorised Share Capital, Issued Share Capital and Subscribed Share Capital of the Harsha Ltd.
Authorised Share Capital is Rs. 25,00,000.
Issued Share Capital is Rs. 22,50,000.
Subscribed Share Capital is Rs. 20,50,000.
Explanation
The question requires calculating three specific categories of share capital based on the provided data. Authorised capital is the registered limit. Issued capital is the sum of shares offered to promoters and the public. Subscribed capital is the sum of shares actually taken up by promoters and the public applicants.
Solution Steps
Step 1: Authorised Share Capital is given in the text as Rs. 25,00,000 (2,50,000 shares × Rs. 10).
Step 2: Issued Share Capital is calculated by adding shares issued to promoters (25,000) and shares issued to the public (2,00,000). Total Issued Shares = 2,25,000. Value = 2,25,000 × Rs. 10 = Rs. 22,50,000.
Step 3: Subscribed Share Capital is calculated by adding shares subscribed by promoters (25,000) and shares applied for by the public (1,80,000). Total Subscribed Shares = 2,05,000. Value = 2,05,000 × Rs. 10 = Rs. 20,50,000.