Wog Technologies Limited Takes a Major Step: Files Draft Red Herring Prospectus with SEBI

Chandigarh, Dec 30: WOG Technologies Limited (“The Company) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The Company is an integrated environmental engineering and technology company, building sustainable infrastructure globally, for its industrial and municipal clients, offering specialized services in water treatment, oil separation, wastewater recycling, and supplementary biogas generation (Source: CRISIL Report).

The Company plans to raise funds through offer of equity shares (face value ₹ 10 each) through initial public offerings. The offer comprises of fresh issue of Equity Shares aggregating up to ₹ 375 crores and offer for sale up to 4,328,000 equity share by Selling Shareholders

WOG Technologies proposes to utilize net proceeds from fresh issue towards- (i) Funding the working capital requirements of Company estimated amount to be ₹220 crores, (ii) Acquisition of additional 50% shareholding in Bell Cooling Towers Private Limited estimated amount to be ₹ 45 crore and balance amount towards (iii) General corporate purposes.

The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

Unistone Capital Private Limited are the sole Book Running Lead Managers to the issue.