WAPCOS Files DRHP at SEBI for IPO Launch

Current Context: WAPCOS Limited filed initial papers with the Securities and Exchange Board of India (SEBI), for its proposed Initial Public Offering (IPO).

• According to the Draft Red Herring Prospectus (DRHP), the public issue with a face value of Rs 10 per equity share.
• It will be a complete offer-for-sale (OFS) of up to 3.25 crore shares by the President of India, acting through the Jal Shakti Ministry.
• The IPO is being made through the Book Building Process, in which:

1. not more than 50% of the Offer will be available for allocation to Qualified Institutional Buyers.
2. not less than 15% of the Offer will be available for allocation to Non-Institutional Bidders.
3. not more than 35% of the Offer will be available for allocation to Retail Individual Bidders.

• WAPCOS Limited is a Government of India-owned consultancy service provider under the Ministry of Jal Shakti and was established in 1969 with its headquarters in New Delhi. The current Chairperson of WAPCOS Ltd. Is RK Agrawal.
• DRHP is a preliminary registration document that is filed by the company with a market regulator (in India- SEBI) when it plans to raise money by selling its shares in the market.

Question:

Q.1 WAPCOS Ltd. will sell _______shares through IPO.
a. 3 Cr.
b. 3.25 Cr.
c. 3.50 Cr.
d. 3.75 Cr.