Allotment Of Shares To Subscribers

This document is format for declaration of allotment of share to the subscribers in Memorandum of Association of the Company. The list of subscribers is issued by the companies after the Initial Public Offering (IPO) or Further Public Offering (FPO) are declared by the company to which subscription forms were sent to the company, after which the company issues list of the subscribers and number of equity shares allotted to the individual subscriber. Under Section 10(2) of the Companies Act, 2013, all monies payable by any member to the company under the memorandum or articles shall be a debt due from him to the company and also according to Section 56(4) of Companies Act, 2013 provides that company shall issue Share Certificates to the subscribers of Memorandum within 2 (two) months from the date of company incorporation. 

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