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Amount in
Details of Share Application money pending allotment Date
Rs. Crores
Share application money from shareholder – Government of
19.10.2019 19.00
st
Karnataka – 1 Installment
Share application money from shareholder – Government of
20.04.2020 10.40
nd
Karnataka – 2 Installment
Total amount of share application received 29.40
Shares allotted out of share application money received 03.06.2020 29.40
st
No. of days utilised for allotment of shares for 1 Installment 229 Days
Requirement of section 42 of the Companies Act for issue of
60 Days 19.00
shares from the date of receipt of application money
Shares issued beyond the above stipulated date 169 Days
The details of receipt and utilisation of share application money is given as under:
Amount in
Details of Share Application money pending allotment
Rs. Crores
Opening share application money pending allotment as on 01.04.2019 11.76
Amount received during the FY 19-20 against share application 30.76
Shares allotted / issued against Share application money 23.52
Closing share application money pending allotment as on 31.03.2020 19.00
Out of the amount raised including Opening Share Application amount has been used for
the purpose for which the funds were raised and balance unspent amount at the end of
year have been kept in Auto Sweep Account and Investment with Life Insurance
Corporation (LIC).
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