WOG Technologies eyes Rs 375 cr via IPO

New Delhi: 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.