Public sector firm WAPCOS has filed its draft red herring prospectus with the Securities and Exchange Board of India for its proposed initial public offering (IPO). The public issue will be an offer-for-sale where the government will sell up to 32.5 million shares.
The offer is being made through the book-building process, wherein 50% is reserved for qualified institutional buyers while 35% and 15% are reserved for retail and non-institutional bidders.
The company engaged in engineering consultancy services and construction has ongoing projects in 30 countries. Some of its listed peers in the segment are
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WAPCOS reported a jump of 11.35% in revenue in FY22 to ₹2,798 crore, while its profit after tax increased by 14.47% to ₹69.16 crore in FY22. The company’s order book for engineering consultancy services stood at ₹2,533.93 crore and ₹18,497.33 crore for construction contracts as on March 31, 2022.
