An unlisted Company is planning for an IPO of equity shares. Your Managing Director asked your advice on the SEBI regulation governing fixation of face value of the share.

Regulations 27 of SEBI (ICDR) Regulations, 2018 deals with the face Value of Equity Shares which provides that the disclosure about the face value of equity shares shall be made in the draft offer document, offer document, advertisements and application forms, along with price band or the issue price in identical font size.