Groves Ltd. and Wood Ltd. decided to merge and a new company Groves Wood Ltd. is formed. Following are the extracts from the financial records of Groves Ltd. and Wood Ltd.: EQUITY AND LIABILITIES Groves Ltd. (₹ in lakh)

Groves Ltd. and Wood Ltd. decided to merge and a new company Groves Wood Ltd. is formed. Following are the extracts from the financial records of Groves Ltd. and Wood Ltd.: EQUITY AND LIABILITIES Groves Ltd. (₹ in lakh) Wood Ltd. (₹ in lakh) (1) Shareholders' funds (a) Share capital Equity shares of ₹10 each 800 1,600 (b) Reserves and surplus Reserve fund 400 600 Surplus 600 700 (2) Current liabilities Trade payables 700 800 TOTAL 2,500 3,700 ASSETS (1) Non-current assets (a) Land and building 400 600 (b) Plant and machinery 900 1,500 (c) Intangible assets (goodwill) 100 200 (2) Current assets (a) Inventories 300 400 (b) Trade receivables 400 300 (c) Cash and cash equivalents 400 700 TOTAL 2,500 3,700 The assets and liabilities of both the companies, excluding the intangible assets are taken over by Groves Wood Ltd. (new company). Compute the total number of shares to be issued to the shareholders of Groves Ltd. and Wood Ltd. of the face value of ₹10 each fully paid-up at a premium of ₹10 per share.