Most companies in India have a face value of Rs 10. The concept of face value is now changed and a company can have any face value, the minimum being Rs 1. Most companies charge an additional amount over the face value. This is the share premium. This is the minimum number of shares for which an application can be made.
Applications can also be for higher amounts.
Applicants may, or may not, get full allotment or partial allotment in the case of over-subscription. The payment may also be split into several stages. Since allotment of shares takes a few weeks, banks offer you the Stockinvest facility to earn interest on your application money. So investors lose less if allotment is denied, or only partial, and the subscription amount is returned. Many non banking finance companies and the lead managers offer investors a facility to borrow money and apply for shares in the book building category.