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V.S. Datey on Companies Act, 2013
  • Issue of shares by public company to 500 shareholders

    by Abhay Chhajed on Sunday, January 08, 2017 at 09:07 AM

    we are planning to Incorporate public limited company with 10 shareholders. we than plan to increase the shareholders to 500 by issue of new shares. co will be unlisted. 1. whether we can allot new shares to 500 members. 2. what is the procedure 3. what are sebi restrictions

    Replied byV.S. Datey Sunday, January 08, 2017 at 05:21 PM

    If unlisted then SEBI does not apply - however, allotment to more than 50 persons is prohibited as it will be considered as public issue V S Datey

 
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