Pro-rata: 12,000 applications for 10,000 shares (6:5). Sharma applied for 120, so allotted 120×65=100 shares; excess application money =20×3=60 adjusted against allotment.
Total allotment due: 10,000×4=40,000
Less: Excess from all applicants: 2,000×3=6,000
Less: Sharma's unpaid net allotment: 400−60=340
Allotment received = 40,000−6,000−340=33,660.