WOG Technologies Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for a proposed initial public offering.

The IPO will comprise a fresh issue of equity shares worth up to ₹375 crore and an offer for sale of up to 4,328,000 equity shares by selling shareholders. The equity shares have a face value of ₹10 each and are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.

According to the DRHP, the company intends to use the net proceeds from the fresh issue towards funding working capital requirements estimated at ₹220 crore, acquisition of an additional 50% shareholding in Bell Cooling Towers Private Limited for approximately ₹45 crore, and the balance for general corporate purposes.

WOG Technologies operates as an integrated environmental engineering and technology company offering solutions in water treatment, oil separation, wastewater recycling and supplementary biogas generation for industrial and municipal clients, as per a CRISIL report cited in the filing.