Raising capital through IPO is one of the frequently used options for long-term finance. Currently the ownership of India Pharmaceuticals Limited is held by promoters and other investors as shown in the below table. The firm is planning to go for an Initial public offering of 15 million shares. These shares will be offered exclusively to the public. None of the existing shareholders will participate in the public issue. The issue price per share is fixed at Rs.175 per share. The face value per share is Rs.10

 

Shareholder Group	Shares held
	(million)
Promoter	28
Other investors
Investor 1	1.35
Investor 2	2
Investor 3	1.65
Investor 4	0.45
Investor 5	0.2
Public	Nil
Total	33.65

 

Required:

a) Show the shareholding pattern (% ownership) pre and post public issue.

b) What are the total proceeds from this public issue to the Company?

c) If the firm has to maintain a minimum public holding of 20% on a fully diluted basis, 

    how many shares have to be offered in the IPO?