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Section 27
Fixed price of shares and application
: (1) The fixed price of shares of a private company shall be as specified in the regulations.
(2) The strike price of the shares of the public company shall be fifty rupees per share or the higher number divisible by ten digits, which shall be equal to the amount as stipulated in the articles of association and regulations.
(3) Public companies should not demand more than fifty percent of the nominal value of each share when calling for applications for the purchase of shares. However, this arrangement will not be applicable if the company which has been in operation for at least three years before publishing its prospectus and raising capital by publishing its audited financial statements for the previous three years.
(4) A person who wants to purchase shares of a public company should submit an application in the prescribed format.