The government is looking at offloading 25 per cent stake in WAPCOS, a public sector enterprise working in the water, power and infrastructure sectors, through an initial public offering. "The government intends to disinvest up to 25 per cent paid-up equity share capital of WAPCOS out of its shareholding of 100 per cent, through an initial public offering in the domestic market," the department of investment and public asset management (DIPAM) said in a notification on Friday.
The department has floated tenders for engaging a registrar and an advertising agency for the disinvestment process. The interested parties will have to make their submissions by February 24.
WAPCOS is a technology-driven consultancy and EPC organisation working in the water, power and infrastructure sectors worldwide. It operates under the aegis of the Ministry of Jal Shakti Department of Water Resources, River Development and Ganga.