ipo investment, another investment opportunity in govt company, IPO coming soon – share market investment wapcos files drhp with sebi for ipo
According to the Draft Red Herring Prospectus (DRHP) filed with SEBI, under the IPO, 32,500,000 equity shares will be sold by the promoters of the company, namely the Government of India. The IPO will be purely in the form of an offer for sale and will not involve any new issue.
The company’s projects are currently running in more than 30 countries
Not more than 50 per cent will be allotted to eligible institutional buyers under the public offer. At the same time, more than 35 percent of the offer will not be available for allotment to retail investors. Over the past five decades, WAPCOS and its subsidiaries have provided engineering consultancy services for projects in the water, power and infrastructure sectors in India and abroad (particularly in South Asia and Africa).
Business expansion in many countries of the world
WAPCOS provides consultancy and engineering services in sectors such as water, power and infrastructure. This company comes under the Ministry of Jal Shakti and provides its services abroad as well. Particularly in South Asia and across Africa, WAPCOS has worked in the fields of dam and reservoir engineering, irrigation and flood control. According to the DRHP, the company is involved in more than 455 projects, completed and ongoing, in 30 countries.
The company’s revenue in FY22 is over 2700 crores
Draft Red Herring Prospects (DRHP) noted that WAPCOS Limited was among the top 10 international consulting firms in the water and other urban infrastructure sector in FY2022 as per the Asian Development Bank report. Also, in FY21, the company’s revenue from operations was Rs. 2,512.87 crore, an increase of 11.35 percent in FY22 to Rs. 2,797.99. Also, the company’s profit after tax increased by 14.47 percent to Rs 69.16 crore from Rs 60.42 crore in the previous year.
