Authorised Shares
At the time of Incorporation, you will specify the number of authorized shares.
This is the maximum number of shares that the company can issue to stockholders at a given time. However, the number of authorized shares can change at any time. You will need to submit a request for change with the registrar of companies (ROC).
So, while the company currently is authorized to issue 1 lakh shares, that number could increase to 10 lakhs next week.
Issued Shares
Issued Shares, also known as “issued and outstanding” shares.
This is the number of shares that the company, pursuant to the board of directors approval, has granted to the several stockholders. Issued Shares determine the percentage of a company's shares that are held by a given stockholder.
