New IPOs Alert: WOG Technologies, SS Retail file issue papers with SEBI

New IPOs Alert: Integrated environmental engineering and technology company WOG Technologies and mobile retail company SS Retail have filed preliminary papers with the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds via initial public offerings.

Shares of the two companies are expected to be listed on the National Stock Exchange (NSE) and the BSE.

WOG Technologies IPO

The proposed initial share sale is a fresh issuance of shares valued at ₹375 crore and an offer for sale (OFS) of 4,328,000 shares, according to the draft red herring prospectus (DRHP).

Under the OFS, promoter Sunil Kumar, along with investors Rakesh Kumar Verma, Ruchi Sharma, Punam Choudhury, Pritam Kanti Paul, Sapna Ahuja, Ravinder Pratap Singh and Anuj Kumar Jain, are offloading their stake.

The fresh issue proceeds will be utilised for funding working capital needs, acquisition of an additional 50% stake in Bell Cooling Towers Pvt Ltd and general corporate purposes.

WOG Technologies is an integrated environmental engineering and technology company, offering specialised services in water treatment, oil separation, wastewater recycling and supplementary biogas generation.

SS Retail IPO

The ₹500 crore public offer of SS Retail will be a mix of fresh issuance of shares aggregating to ₹300 crore and an OFS of ₹200 crore by promoters Siddharth Gunvant Shah, Harshal Kishor Parekh, Bhavini Harshal Parekh, Deepa Siddharth Shah and other shareholder Rakhi Narendra Firodia.

The IPO proceeds will be utilised for capital expenditure needs for fit-outs towards setting up new stores in FY27 and FY28, working capital requirements and corporate general purposes.

SS Retail is a multi-brand retail chain for mobile phones, accessories and other electronic items. It operates in Maharashtra, Madhya Pradesh, Goa and Karnataka with a focus on tier-II and tier-III cities and beyond.