WOG Technologies Limited has filed a Draft Red Herring Prospectus with SEBI as part of its plan to tap the capital markets through an initial public offering.
The IPO will consist of a fresh issue of equity shares worth up to ₹375 crore and an offer for sale of 4,328,000 equity shares by selling shareholders. The shares, with a face value of ₹10 each, are proposed to be listed on the NSE and BSE.
According to the company, funds raised through the fresh issue will be directed towards working capital needs, acquisition of an additional stake in Bell Cooling Towers Private Limited, and general corporate purposes.
WOG Technologies is part of the WOG Group, established in 2010, and operates globally across industrial and municipal segments, providing specialised environmental engineering solutions.
