New Delhi, Dec 29 (PTI) WOG Technologies has filed preliminary papers with the capital markets regulator, Sebi, to raise funds through an initial public offering (IPO) comprising a fresh issue of shares worth Rs 375 crore.
Apart from the fresh issue, there will be an offer-for-sale (OFS) component of 43.28 lakh equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP) filed on Sunday.
The company will utilise the proceeds from the fresh issue to meet its working capital requirements, acquire the remaining 50 per cent stake in Bell Cooling Towers, and for general corporate purposes.
WOG Technologies is an environmental engineering and technology firm that provides solutions to industrial and municipal clients across water and wastewater management. Its services include water treatment, oil separation, wastewater recycling and biogas generation.
The company undertakes end-to-end project execution, covering design, engineering, procurement, installation, and operations of customised wastewater and effluent treatment systems, as well as water-recycling infrastructure.
WOG Technologies is part of the WOG Group, which was founded in 2010.
On the financial front, the company's revenue from operations more than doubled to Rs 165.43 crore in FY25, from Rs 82.18 crore in FY24. Net profit also rose sharply to Rs 44.24 crore in FY25 from Rs 2.79 crore in FY24.
Unistone Capital has been appointed as the sole merchant banker for the proposed initial public offering.