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Allotment of Fresh Equity Shares

Overview
Documents Required / Details of the product
Process

The directors of the company are authorized to arrange funds for the company. For short-term funds need, they normally resort to loans or short-term credit facilities. However for long-term use or to achieve the long-term vision and objective of the company, the issue of a new equity share is the best option. The new equity shares can be allotted at the fair market value or the premium, the issue of shares at a discount is prohibited by the companies act, 2013. To issue shares for considerations other than cash prior approval of the ROC is needed.

Allotment of Equity Shares of Private Limited Company Process

To do the valuation of shares

To decide on the new limit of the authorized capital, or say alteration of the capital clause of the MOA directors must meet in a legally convened board meeting. The notice sent to directors must contain the agenda of the meeting, and we suggest to include the proposed resolution so that the directors come prepared. We strongly recommend following the standards prescribed by ICSI in SS-1 for board meetings.
Offer shares to the existing shareholders or for private placement.

The existing shareholders of the company have the first right to any issue of share. In case the shares to be issued do not get fully subscribed by the existing shareholders then the directors can approach other investors. Being a private limited company, the shares can not be offered to the public, and there is a prohibition of advertisement of the same.
Obtain Board of Directors Approval for Issue of Fresh Shares

To approve the allotment of new shares of the company, the director’s meeting is called, wherein the majority decides on approving the allotment of shares. The notice sent to directors must contain the agenda of the meeting, and we suggest to include the proposed resolution so that the directors come prepared. We strongly recommend following the standards prescribed by ICSI in SS-1 for board meetings
Filing of Return of Allotment in Form No PAS-3

after the approval by the board of directors of the company, a return of allotment of equity shares is filed with the ROC in form No Pas-3. with the approval of the same by roc, the paid-up capital of the company stands increased.

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