New Delhi: The initial public offering of the WAPCOS is likely to be launched at the end of March, a official said.
The Department of Investment and Management of Public Assets (Depam) in February floated the tender to involve advertising registrants and agencies to sell up to 25 percent of the shares in Wapcos through the IPO.
Under the Ministry of Jal Shakti, WapCos provides consultation, and engineering, procurement and construction services in the field of water, electrical and infrastructure sectors.
The company also provides its services abroad, including Afghanistan.
“There are some delays in the initial public offering because of a pandemic.
The company is in the process of collecting operating data abroad, and we hope the assessment will be completed in a few months,” said PTI official.
The government is also in the process of sales of up to 25 percent of the shares in the National Seeds (NSC) corporation through the IPO, and has invited offers from advisors to assist in the process.
The government has set an ambitious target to raise Rs 1.75 lakh crore from the divestment of 2021-22.
So far, the government has collected more than RS 8,300 Crore through stock sales in Axis Bank Ltd, NMDC Ltd.
and Hudco.