WAPCOS files DRHP for IPO

The Government of India ("GOI") has fully owned WAPCOS Limited, a central public sector enterprise, which is engaged in engineering consultancy services and construction in the fields of water, power, and infrastructure for businesses and communities in India and abroad.

WAPCOS Limited has filed initial papers with the market regulator for its proposed Initial Public Offering (IPO).

According to the draft red herring prospectus, the public offering, which has a face value of Rs10 per equity share, is a full offer-for-sale (OFS) of up to 32,500,000 equity shares by the President of India, acting through the Ministry of Jal Shakti, Government of India ("The Selling Shareholder").

A maximum of 50% of the offer may be allocated to qualified institutional buyers, a minimum of 15% may be allocated to non-institutional bidders, and a maximum of 35% may be allocated to retail individual bidders. The offer is being made through the book-building process.

In the last fifty years, WAPCOS and its affiliates have offered engineering consultancy services for projects in the water, power, and infrastructure sectors in India and abroad, particularly in South Asia and throughout Africa, in the fields of dam and reservoir engineering, irrigation, flood control, and river morphology, groundwater exploration, agriculture, watershed management, and river basin planning, environmental engineering, hydropower and pump storage, and thermionic engineering.

preliminary research and reconnaissance, feasibility studies, planning and project formulation, field surveys and testing design engineering, baseline and socioeconomic surveys, tender engineering, institutional and human resource development, project management and construction supervision, operation and maintenance, engineering procurement consultancy, turnkey and deposit works, in addition to consulting services for all it does.

It now has thirty active projects abroad and has been involved with over 455 active and completed projects abroad.

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