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

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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Share Market Today