Delhi-based environmental engineering firm WOG Technologies has taken a significant step towards going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company is looking to raise funds through an Initial Public Offering (IPO) on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

IPO Details

The proposed IPO consists of two components:

1. Fresh Issue: WOG Technologies aims to raise ₹375 crore through a fresh issue of shares.
2. Offer for Sale (OFS): Existing shareholders will offer 43.28 lakh shares for sale.

Company Overview

WOG Technologies is an environmental engineering company based in Delhi. While specific details about their operations and financials are not provided in the available information, the company's focus on environmental engineering suggests they may be involved in projects related to sustainability, pollution control, or eco-friendly technologies.

Significance of the IPO

The decision to go public can be seen as a strategic move for WOG Technologies. IPOs often provide companies with:

• Access to capital for expansion and growth
• Increased visibility and credibility in the market
• Liquidity for existing shareholders

Next Steps

With the DRHP filed, the company will now await SEBI's observations and approvals. Once approved, WOG Technologies will need to decide on the price band for the IPO and open the subscription for investors.

Potential investors and market watchers should keep an eye out for further announcements regarding:

• The IPO timeline
• Detailed financial information of the company
• Specific use of proceeds from the fresh issue
• Background of the selling shareholders

As always, it's advisable for investors to thoroughly review the DRHP and consult with financial advisors before making any investment decisions.

WOG Technologies Ltd. has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering, marking a significant milestone for the Delhi-based environmental engineering company. The public offering comprises a fresh issue of equity shares worth ₹375 crore and an offer for sale (OFS) of up to 43.28 lakh shares by existing shareholders.

IPO Structure and Stakeholder Details

The offer for sale includes participation from multiple stakeholders, with promoter Sunil Kumar offloading his stake alongside other shareholders including Rakesh Kumar Vernia, Punam Choudhary, Ruchi Sharma, Prithvijit Roy, Pritam Kanti Paul, Ravinder Pratap Singh, Sapna Ahuja, and Anuj Kumar Jain. The company has proposed listing its equity shares on both the National Stock Exchange of India Ltd. and BSE Ltd.

The company, in consultation with book-running lead managers, may consider a pre-IPO placement of equity shares aggregating up to ₹60 crore. If completed, this amount will be reduced from the fresh issue size.

Fund Utilization and Strategic Initiatives

The proceeds from the fresh issue have been allocated for specific corporate purposes. The major portion of ₹220 crore will be directed towards funding the working capital requirements of the company, supporting its operational expansion and business growth initiatives. Additionally, ₹45 crore has been earmarked for the acquisition of an additional 50% stake in Bell Cooling Towers Pvt., representing a strategic move to strengthen the company's market position.

Business Operations and Market Position

WOG Technologies operates as an integrated environmental engineering and technology company focused on building sustainable infrastructure globally. The company's comprehensive service portfolio includes designing, engineering, procuring, installing, and operating specialized and customized wastewater treatment systems, effluent treatment plants, and water recycling infrastructure. Beyond installation, the company provides post-commissioning operation and maintenance (O&M) services to ensure continuity and sustainability of project performance.

Financial Performance Highlights

The company has demonstrated robust financial growth in recent periods. Revenue from operations in fiscal 2025 reached ₹165.43 crore, representing substantial growth compared to ₹82.18 crore in the previous fiscal year. For the quarter ended June, revenue from operations stood at ₹41.31 crore.

The profitability metrics show even more impressive growth, with profit for fiscal 2025 reaching ₹44.24 crore compared to ₹2.78 crore in fiscal 2024, indicating strong operational efficiency and market demand for the company's services.

IPO Management and Advisory

Unistone Capital Pvt. has been appointed as the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. will serve as the registrar for the offering. These appointments ensure professional management of the IPO process and investor servicing requirements.