The correct answer is: A. 15% of the issue price.
As per SEBI guidelines, the minimum application money to be paid for an IPO is 15% of the issue price. This is to ensure that only serious investors apply for the IPO and that the market is not flooded with applications from speculators.
The other options are incorrect because they are higher than the minimum application money specified by SEBI.
Option B: 20% of the issue price is incorrect because it is higher than the minimum application money specified by SEBI.
Option C: 25% of the issue price is incorrect because it is higher than the minimum application money specified by SEBI.
Option D: 30% of the issue price is incorrect because it is higher than the minimum application money specified by SEBI.
Option E: In between 15% to 20% of the issue price is incorrect because it is not a specific percentage.