Department of Investment and Public Asset Management (DIPAM) is likely to appoint legal advisors for Telecommunications Consultants India (TCIL) and WAPCOS on January 3, 2020, to steer their initial public offering (IPO) process. As per industry sources, SNG & Partners, L&L Partners and Crawford Bayley & Co have being shortlisted for this.
According to DIPAM, SNG & Partners and L&L Partners are in competition for both WAPCOS and TCIL. Meanwhile, Cyril Amarchand Mangaldas and Crawford Bayley & Co are competing for WAPCOS.
Listing of WAPCOS and TCIL is part of the government’s plan, as part of which IRCTC and RITES have already been listed. In case of TCIL, the government may sell 25 per cent stake.