DIPAM to appoint legal advisors to steer the IPOs of TCIL and WAPCOS

The Department of Investment and Public Asset Management (DIPAM) is likely to appoint legal advisers for Telecommunications Consultants India Limited (TCIL) and WAPCOS soon, 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. The listing of WAPCOS and TCIL is part of the government’s disinvestment plan, as part of which Indian Railways Catering and Tourism Corporation and RITES have already been listed. In the case of TCIL, the government may sell a 25 per cent stake.