The initial public offering of Wapcos is likely to be launched by March-end, an official said.

In February, the department of investment and public asset management (Dipam) had floated tenders for engaging a registrar and an advertising agency to sell up to a 25 per cent stake in Wapcos through an IPO.

Under the ministry of Jal Shakti, Wapcos provides consultancy, and engineering, procurement and construction services in the field of water, power and infrastructure sectors.

The company also provides its services abroad, including Afghanistan.

“There was some delay in the initial public offering due to the pandemic. The company is in the process of collecting data of its overseas operations, and we expect the valuation to be completed in couple of months,” the official told PTI.

The government is also in the process of selling up to a 25 per cent stake in National Seeds Corporation (NSC) through IPO, and has invited bids from advisers to assist it in the process.