Dear Babu, IPMAT is an entrance examination conducted for admission into 5 year Integrated Program in Management. The exam will be conducted tentatively in the month of May. This is an online exam conducted for 2 hours. There will be 100 questions asked in the areas of Quantitative Ability and Verbal Ability. While Quantitative ability has Multiple choice Questions and Short Answer Questions, Verbal Ability has Multiple choice Questions. Multiple choice version in Quantitative Ability has 40 questions while Verbal Ability has 40 questions. The remaining 20 questions are from Short Answer Questions of Quantitative Ability. Every correct answer gets you 4 marks and a wrong answer takes away 1 mark due to negative marking. However, there is no negayive marking for Short Answer Questions of Quantitative Ability. There is no set syllabus designed and released for IPMAT. However going by the previous trend, the tentative syllabus might be:

Under Quantitative Ability: Number System, Algebra, Set Theory, Data Intrepretation, Geometry, Mensuration, Percentage, Profit and Loss, Time, Speed, Distance, Time and Work.

Under Verbal Ability: Paragraph completion, Reading comprehension, Word jumble, Word Usage, Vocabulary and Analogy, Para jumble, Fill in the blanks and Grammar. 

To score better, try attemtping all the Short Answer Questions as there is no negative marking there. Keep practising previous model papers to have an idea of how the exam would be.