WOG Technologies Files DRHP For IPO To Raise ₹375 Crore In Fresh Issue
WOG Technologies Ltd. filed DRHP with SEBI for IPO comprising ₹375 crore fresh issue and OFS of 43.28 lakh shares, with listing planned on NSE and BSE. The environmental engineering company will use ₹220 crore for working capital and ₹45 crore for acquiring additional stake in Bell Cooling Towers. The company showed strong financial performance with revenue growing to ₹165.43 crore in fiscal 2025 from ₹82.18 crore, while profit surged to ₹44.24 crore from ₹2.78 crore in fiscal 2024.
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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.
| Parameter | Details |
|---|---|
| Fresh Issue Size | ₹375 crore |
| OFS Component | Up to 43.28 lakh shares |
| Proposed Listing | NSE and BSE |
| Pre-IPO Placement | Up to ₹60 crore (under consideration) |
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.
| Financial Metric | Fiscal 2025 | Fiscal 2024 | Growth |
|---|---|---|---|
| Revenue from Operations | ₹165.43 crore | ₹82.18 crore | Significant increase |
| Net Profit | ₹44.24 crore | ₹2.78 crore | Substantial growth |
| Q1 Revenue | ₹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.
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