Govt plans WAPCOS initial public offering by March, says official

The initial public offering of WAPCOS is likely to be launched by March end, an official said.

The department of Investment and Public Asset Management (DIPAM) had on February floated tenders for engaging a registrar and an advertising agency for selling up to 25 per cent stake in WAPCOS through an IPO.

Under the Ministry of Jal Shakti, WAPCOS provides consultancy, and engineering, procurement and construction services in the field of water, power and infrastructure sectors.

The company also provides its services abroad, including Afghanistan.

"There was some delay in the initial public offering due to the pandemic. The company is in the process of collecting data of its overseas operations, and we expect the valuation to be completed in couple of months," the official told PTI.

The government is also in the process of selling up to 25 per cent stake in National Seeds Corporation (NSC) through IPO, and has invited bids from advisors to assist it in the process.

The government has set an ambitious target of raising Rs 1.75 lakh crore from divestment in 2021-22.

So far, the government has raised over Rs 8,300 crore through stake sale in Axis Bank Ltd, NMDC Ltd and HUDCO.