WAPCOS Proposed Initial Public Offering (IPO): Another government company is gearing up for its IPO. This company is owned by the Government of India. The name of this company is WAPCOS Limited. WAPCOS Limited, which comes under the administrative control of the Ministry of Jal Shakti, has filed preliminary documents for its proposed IPO with market regulator SEBI. The IPO will be purely in the form of an offer for sale and will not involve any fresh issue. In this issue, the government will sell 3.25 crore shares of face value of Rs 10.
WAPCOS Limited was earlier known as Water & Energy Consultancy Services Limited. It is a company owned by Ministry of Jal Shakti, Government of India. is a consulting services company owned by the Government of India. The company provides services in the areas of water resources, energy and infrastructure.
Company’s application to SEBI
Public sector company WAPCOS Ltd has applied for initial share sale (Wapcos IPO) with capital markets regulator SEBI (SEBI). As per the draft red herring prospectus (DRHP) filed with SEBI, under the IPO, 32,500,000 equity shares (32,500,000 equity shares) will be sold by the company’s promoter, Government of India. This IPO will be purely in the form of offer for sale.
The offer is being made through book building process, wherein not more than 50 per cent of the offers will be available for allotment to eligible institutional buyers, not less than 15 per cent of the offers will be available to the institutional bidders. Not more than 35 per cent of the offer will be available for allotment to retail individual bidders.
Jagbharat started many projects with the country
Over the past five decades, WAPCOS and its subsidiaries have been undertaking projects in the areas of dam and reservoir engineering, irrigation, flood control in India and abroad, particularly in South Asia and across Africa. At present, they have ongoing projects in 30 countries and are associated with over 455 completed and ongoing overseas projects.
