BVG India Ltd., an integrated facility management services provider, has applied for an initial public offering of shares to raise capital. The company plans to offer equity shares worth up to Rs 300 crore, according to the draft red herring prospectus.
Eight existing shareholders have offered to sell up to 28,548,007 equity shares of face value of Rs 2 each via an offer for sale (OFS).
Strategic Investment Group, a US firm with approximately $38 billion of assets under management, will participate in the OFS. The firm has a stake of nearly 27% in the company.
Chairman and Managing Director Hanmantrao Gaikwad, who owns 54.87% of pre-IPO equity and designated promoter, will also offload shares.
BVG India plans to utilise Rs 250 crore from the net proceeds towards repayment of debt. As on Aug. 31, 2025, the aggregate outstanding borrowings on a consolidated basis stood at Rs 820 crore.
Details regarding price band, OFS size, bidding details, IPO period and listing date will be announced after the IPO gets SEBI approval.
BVG India provides end-to-end IFM solutions across a wide range of soft services, hard services and specialised services. These include mechanized housekeeping, janitorial services, industrial housekeeping, manpower supply, security services, office support, repairs and maintenance, and city cleaning.
The company also claims to be the first company to have been awarded a contract for providing emergency police response services in India.
As of March 31, 2025, we had over 85,000 employees across 2,218 active operating sites. In fiscal 2025, the comoany had over 1,200 clients across 188 cities in India and Saudi Arabia.
The company's consolidated revenue from operations in FY25 rose 16% year-on-year to Rs 3,301 crore. Net profit jumped 27% to Rs 207 crore.
ICICI Securities Ltd., JM Financial Ltd., and Motilal Oswal Investment Advisors Ltd. are the lead book-running managers to the IPO.
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