Initial Public Offer Illustration 3


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Engineers India Ltd. current market price on 1st Oct. is  1000. FPO of Shares of face value  10 is announced at a fixed price of  900. The issue for 10 crore shares opened on 8th Oct. and by the time is closed on 10th Oct. The company received application for 100 crores shares. Allotment was done on proportionate basis & excess money refunded on 20th Oct. 2010. Pass necessary journal entries in books of EIL.

 


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