Identify the steps of the procedure of share issue:

(A) Allotment of Shares

(B) Receipt of Applications

(C) Issue of Prospectus

(D) Share Call

Choose the correct answer from the options given below:

The procedure of share issue follows a specific chronological order:

Issue of Prospectus (C) comes first. The company invites the public to subscribe to its shares by issuing a prospectus, which contains all material information about the company and the terms of the share issue.

Receipt of Applications (B) is the next step. After reading the prospectus, interested investors submit their applications along with application money to purchase shares.

Allotment of Shares (A) follows. The Board of Directors reviews the applications and allots shares to the applicants. Those who are allotted shares become shareholders of the company.

Share Call (D) is the final step. If shares are issued on part payment basis (application and allotment money only), the company makes subsequent calls (First Call, Second Call, Final Call) to collect the remaining unpaid amount on shares.

The logical sequence is: C → B → A → D

This matches Option 4: (C), (B), (A), (D), which is the correct answer.