WAPCOS files DRHP Papers with Sebi for IPO

September 26, 2022

New Delhi State- run enterprise WAPCOS filed a draft red herring prospectus (DRHP) to launch an original public immolation (IPO) with the capital requests controller Sebi.

WAPCOS is a wholly- possessed public sector enterprise engaged in engineering consultancy and construction under the control of the Ministry of Jal Shakti, Government of India. It provides engineering consultancy services and construction services in the field of water, power and structure for businesses and communities in India and overseas.

The issue is entirely an offer for trade by the government of India of over to 3.25 crore equity shares with a face value of Rs 10 each, according to DRHP. In FY22, it was placed first among the top ten transnational consultancy enterprises in the water and other civic structure sectors, according to an Asian Development Bank report, its DRHP mentioned.

In the once five decades, WAPCOS and its accessories have handed engineering consultancy services for systems in water, power, and structure sectors within India and overseas, particularly in South Asia and across Africa. WAPCOS has ongoing systems in 30 countries and has been associated with over 455 overseas systems, both completed and ongoing.


It was placed third among the top five Indian pots for consulting services between 2017 and 2021. Some of its listed peers in the member are Ircon International NSE-1.38%, solemnities NSE-1.72%, Engineers India NSE-3.53%, NBCC NSE-4.07%, and Va Tech Wabag NSE-4.90%.

For FY 2021- 22, the company reported an 11 per cent rise in the income from operations to Rs 2,797.99 crore, which was Rs 2,512.87 crore in the former time. Its profit- after- duty (PAT) jumped 14 per cent to Rs69.16 crore from Rs 60.42 crore. Its order book, constituting engineering consultancy services stood at Rs 2,533.93 crore and Rs 18,497.33 crore for construction contracts, as on March 31, 2022, with a strong debt- to- equity rate of 0.10 times.

The company has reserved 50 per cent of shares for good institutional buyers, whereas 15 per cent of shares will be allocated to non-institutional investors, and the remaining 35 per cent will be allocated to retail stab.

IDBI NSE-4.81% Capital Markets & Securities Limited and SMC centrals Limited are the book- running lead directors and KFin Technologies Limited is the register of the offer. The equity shares are proposed to be listed on BSE and NSE.