Water management solutions provider WOG Technologies files IPO papers with fresh issue size of Rs 375 crore

WOG Technologies IPO News

Gurugram-based water management solutions provider WOG Technologies has filed draft document with SEBI to raise funds via Initial Public Offering (IPO) for its working capital requirements.

The company approached capital markets to mop up Rs 375 crore via issuance of fresh shares, while existing shareholders including promoter Sunil Kumar will be offloading up to 43.28 lakh shares via offer-for-sale, as per the DRHP filed on December 28.

As a part of fresh issue, the company may consider raising funds up to Rs 60 crore in pre-IPO placement i.e. before going for the IPO launch.

WOG Technologies that provides specialised and customised wastewater treatment systems and effluent treatment plants, and water recycling infrastructure will utilise Rs 220 crore of fresh issue proceeds for its working capital requirements, Rs 45 crore for acquisition of additional 50% shareholding in Bell Cooling Towers, and the remainder funds for general corporate purposes.

The WOG Group has executed 179 projects in India and 16 countries globally, including in South Asia, South East Asia, Central Asia, Middle East, and Caribbean.

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Further, it is in the process of executing 34 projects, with an outstanding order book value of Rs 1,013 crore, across various stages of execution. "Of this order book, 65.17 percent was attributable to municipal clients and 34.83 percent to industrial clients," WOG in its DRHP said.

WOG Technologies that competes with several listed peers including VA Tech Wabag, Ion Exchange, EMS, Enviro Infra Engineers, and Denta Water and Infra Solutions has recorded massive growth in profit at Rs 44.2 crore in the fiscal 2025, growing nearly 16 times over Rs 2.8 crore in previous year. Revenue during the same period doubled to Rs 165.4 crore, compared to Rs 82.2 crore.

Profit for the June 2025 quarter stood at Rs 9.7 crore on revenue of Rs 41.3 crore.

Unistone Capital is appointed as the book running lead manager for the WOG Technologies IPO.