WAPCOS IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 27, 2022Wapcos, a public sector entity has filed the Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (DRHP) in order to seek approval for the Initial Public Offering (IPO).
The company has proposed an IPO for the sale of 32,500,000 Equity Shares by the promoter of the company, President of India, acting through the Ministry of Jal Shakti, Government of India.
With the Wapcos IPO, the Government of India is planning to execute disinvestment in the entity and offer the shares to the general public.
Without further ado, let’s get in the details related to the company, its offerings, management, financial statements, etc., through this Wapcos IPO Review.
| Face Value | Rs 10 |
| Price Band | Not Disclosed |
| Listing At | NSE, BSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
WAPCOS IPO Overview
The DRHP of Wapcos IPO states that the IPO will be entirely an Offer for Sale by the promoter of the company of up to 32,500,000 shares.
The entity is not offering any new shares to the public in the form of Fresh Issue.
The IPO is going to be a Book Built Offer and the shares will be listed on the mainboard exchanges, i.e., NSE and BSE.
WAPCOS IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Wapcos Limited filed the Draft Prospectus with the capital market regulator on 23rd September, 2022. The company will be float the IPO in the market once it is approved by SEBI. The Wapcos IPO Dates will be decided by the company and published for the public acknowledgement after the DRHP approval.
Usually, an IPO is open for 3 to 10 working days where 3 stands as the minimum number of days for which an IPO shall remain open to receive bids from the public.
WAPCOS IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
Wapcos IPO Size comprises of 32,500,000 equity shares to be offered by way of an Offer for Sale. The size in amount will be discovered after the IPO. Wapcos IPO Price will be determined through the book building process.
The company and the selling shareholder will determine the price band and the minimum lot size of the IPO. The investors will bid for the IPO within the price band and thereafter, the final price will be discovered.
WAPCOS IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| NA | NA | NA | NA |
There is no information on Wapcos IPO GMP as of now. The company has recently filed the draft papers and will move ahead with the IPO opening post approval.
Grey Market is an unofficial market place where the equity shares of a company proposing an IPO in the market are traded. This trading takes place before the listing of the shares. This is an unofficial and unregulated market, but holds high significance in the market dynamics.
WAPCOS IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – | |||||
| 2nd Day – | |||||
| 3rd Day – | |||||
| Shares Offered or Net Issue |
Equity shares of Wapcos Limited are being offered in the market through an IPO and the face value of the offered shares is Rs. 10 each.
The company is a public sector enterprise entirely owned by the Government of India (GoI) and now they are planning to disinvest their holding in the company through a public offer.
The Wapcos IPO Subscription will take place in the following manner. 50% of the offer will be reserved for the Qualified Institutional Buyers (QIBs), further 15% of the offer will be made available for the Non-Institutional Buyers, and the remaining 35% of the offer will be reserved for the Retail Investors.
WAPCOS IPO Allotment Status
Wapcos IPO Allotment will be done right after the IPO is closed. The company will finalize the basis of allotment and make the allotment to the successful bidders. The shares will be credited online in the Demat Accounts of the bidders.
Once the allotment is completed, the company will list the shares on the stock exchange and join the hundreds of listed entities.
WAPCOS IPO Live Performance
Check out the Wapcos IPO Price at one click. The entity is all ready to make its debut on the mainboard exchanges and knowing its everyday price will help you choose the right time to deal in.
Subscribe to WAPCOS IPO – Open Free Demat Account Now!
WAPCOS – Company Review
Wapcos was incorporated as Water and Power Development Consultancy Services (India) Private Limited in 1969. The company is a public sector enterprise engaged in the engineering consultancy services and construction in areas of power, water, and infrastructure sectors.
Ever since its incorporation, the company has undertaken numerous projects and has grown continuously under the support and guidance of the government.
The company undertakes a wide variety of service offering for the country as well overseas.
Wapcos is wholly owned by the Government of India under the Ministry of Jal Shakti.
Products or Services
Under the three broad segments, Wapcos offers a wide array of services. We cannot name all of them as there are so many, but to name a few:
- Baseline and Socio-Economic Surveys
- Agriculture
- Operations and Maintenance
- Preliminary Investigations/Reconnaissance
- Baseline and Socio-Economic Surveys
- Fisheries
- Irrigation
- Power Generation (thermal, hydro)
- Power transmission and distribution, including rural electrification
- Industrial projects (sugar, cement, food processing, textile, automotive etc.)
The entity has been serving many segments and sectors for over five decades. The entity commenced its operations in 1969 and its area of operations, experience, and expertise has only grown to a magnificent level.
Promoters and Holding
The Promoter of WAPCOS Limited is The President Of India Acting Through The Ministry Of Jal Shakti, Government Of India.
The management of the company consists of the following individuals:
- Rajni Kant Agrawal, in the position of Chairman-cum-Managing Director
- Pankaj Kapoor, in the position of Director (Finance)/ Whole time Director and CFO
- Anupam Mishra, in the position of Director (Commercial & HRD)/ Whole time Director
- Anand Mohan Government, in the position of Nominee (Part- time) Director
- Partha Sarathi Ghosh, in the position of Non-Official Part-time (Independent) Director
- Jasbir Singh Thakur, in the position of Non-Official Part-time (Independent) Director
- Anil Kumar Trigunayat, in the position of Non-Official Part-time (Independent) Director
- Lakhan Lal Sahu, in the position of Non-Official Part-time (Independent) Director
- Kavita Parmar, in the position of Company Secretary and Compliance Officer
Is WAPCOS good for Investment?
Wapcos Limited is a public sector company owned and managed by the Ministry of Jal Shakti. The company is engaged in the engineering consultancy services and construction. They operate in three broad categories – Water, Power, and Infrastructure. The company is led by driven and highly skilled individuals having brief experience history in the area of their operations.
The Government of India owned company is currently running projects in over 30 countries which includes Bhutan, Bangladesh, Botswana, Cambodia Cuba, etc.
WAPCOS Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Assets | 51,636.09 | 47,211.87 | 43,810.06 |
| Revenue | 28,663.73 | 25,804.99 | 29,436.35 |
| Expense | 27,658.78 | 24,881.12 | 27,189.33 |
| Profit After Tax | 708.11 | 617.38 | 1,377.48 |
The public sector enterprise engaged in multiple projects is also in a favorable position in terms of revenues.
Let’s go through the financial statements briefly of this company for the past three financial years. The company’s total revenue for 2022, 2021, and 2020 was Rs. 28,663.73 million, Rs. 25,804.99 million, and Rs. 29,436.35 million, respectively.
Further, the company’s profit for the previous has gone at a steady rate. The profit for 2022, 2021, and 2020 was Rs. 691.60 million, Rs. 604.15 million, and Rs. 1,473.12 million, respectively. There are certain factors that no entity can avoid and undergo its impacts, and WAPCOS is no exception.
EPS states the capacity of a company to offer income on the investment by the shareholders. The EPS of WAPCOS is in a good state, but not better than before. As of March 2022, the EPS was Rs. 5.32.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Basic & Diluted | 5.32 | 4.65 | 11.33 |
WAPCOS IPO Review
WAPCOS Limited is a government-owned and managed entity. It undertakes projects related to water, power, and infrastructure as an engineering consultancy services and construction company. The company is currently executing numerous projects, and its contribution is significant.
WAPCOS IPO is entirely an Offer for Sale where the Government of India will be executing its disinvestment from the entity. After LIC, this is the second entity this year in which the Government is making the disinvestment through a public offer.
The Government will be offloading about 25% of its stakes from WAPCOS. As it is an Offer for Sale, the company will not be receiving any proceeds from the IPO.
WAPCOS IPO Details
Here are few more details you need to know before investing in WAPCOS IPO –
WAPCOS IPO Issue Object
The WAPCOS has proposed diverse objectives for making the IPO offer and some of the objectives are:
(i) to carry out the disinvestment of up to 32,500,000 Equity Shares by the Selling Shareholder (the President of India, acting through the Ministry of Jal Shakti, Government of India) constituting 25% of our Company’s paid up Equity Share capital our Company; and
(ii) to achieve the benefits of listing the Equity Shares on the Stock Exchanges.
WAPCOS IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Pan India Presence;
- Global experience and reach;
- Established track record in core areas;
- Operational efficiency and quality control through well-established systems and controls;
- Strong image as a “Technical Consultancy” organization;
- Strategic role in Government of India initiatives;
- Strong Order book and Credit Profile;
- Qualified, multi-disciplinary and experienced employee base and proven management team.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 5.32 | 9.99 | 52.95 |
| 31-Mar-21 | 4.65 | 9.36 | – |
| Mar-20 | 11.33 | 24.21 | – |
WAPCOS IPO Lead Managers
Here are the list of Lead managers –
-
IDBI Capital Markets & Securities Limited
- SMC Capitals Limited
WAPCOS IPO Registrar to offer
Check out the details of the registrar here –
KFIN TECHNOLOGIES LIMITED
(Formerly KFin Technologies Private Limited)
Selenium, Tower B, Plot No- 31 & 32,
Financial District, Nanakramguda, Serilingampally,
Hyderabad Rangareddi, Telangana- 500032, India
Tel: +91 40 6716 2222
Toll free number–- 18003094001
E-mail: fincare.ipo@kfintech.com
Investor Grievance E-mail: einward.ris@kfintech.com
Website: www.kfintech.com
Contact Person: M Murali Krishna
SEBI Registration No.: INR000000221
WAPCOS IPO – Other Details
- Statutory Auditor – Serva Associates, Chartered Accountants
- Legal Counsel to the Company – SNG & Partners
- Bankers to the Company – HDFC Bank, State Bank of India, Punjab National Bank and Indian Overseas Bank
WAPCOS IPO Verdict by Stock Brokers
Stock brokers are generally active in buzzing IPOs. As they have a distinct role in the capital market, their words and opinion on security or IPO is highly credible.
WAPCOS IPO will probably be one of the buzzing IPOs in the market. We will keep you updated with the latest information and reviews of the top stock brokers.
WAPCOS IPO – Conclusion
It is no doubt that WAPCOS IPO is a significant IPO this year. Most investors are usually interested in holding even a chunk of a public sector entity as they offer stability and are generally good in terms of long-term investments. WAPCOS is directly connected to inevitable segments like Water, Power, and Infrastructure.
In recent years, the progress level of WAPCOS might have been slowed slightly, but its stats are still good. The EPS is also away from the dark shadows making a potential company and investment.
To Subscribe to WAPCOS IPO – Open Demat Account Now!
WAPCOS IPO Review FAQs
Check out the FAQs on WAPCOS IPO –
What is the Issue Size of WAPCOS IPO?
The Company is making an initial public offer of 32,500,000 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of WAPCOS IPO?
The price band for this particular IPO ranges between Rs.NA. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the WAPCOS IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the WAPCOS IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the WAPCOS IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of WAPCOS IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFIN TECHNOLOGIES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Divgi Torqtransfer IPO?
Here are the promoters of this IPO – THE PRESIDENT OF INDIA ACTING THROUGH THE MINISTRY OF JAL SHAKTI, GOVERNMENT OF INDIA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Divgi Torqtransfer IPO?
They have obtained the GMP of this IPO and it is Rs.NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Divgi Torqtransfer IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of WAPCOS Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2022 in Million is 708.11, 2021 is 617.38, 2020 is 1,377.48.
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