New Delhi: The initial public offering of WAPCOS is likely to begin by the end of March.
The Department of Investment and Public Asset Management (DIPAM) had in February floated tenders to hire a registrar and an advertising agency to sell 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 areas of water, power and infrastructure sectors.
The company also provides its services abroad including Afghanistan.
“The initial public offering was somewhat delayed due to the pandemic. The company is in the process of collecting data on its overseas operations, and we expect the evaluation to be completed in a few months,” the official said.
The government is in the process of selling up to 25 per cent stake in National Seed Corporation (NSC) through an IPO and has invited bids from consultants to assist in the process.
The government has set an ambitious target of increasing ₹1.75 lakh crore from disinvestment in 2021-22.
So far, the government has raised ₹8,300 crore through stake sale in Axis Bank Ltd., NMDC Ltd. and HUDCO.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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