BVG India files IPO papers with Sebi, aims to raise ₹300 cr via fresh issue

Facility management services provider, BVG India has filed its preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO) comprising a fresh issue of equity shares worth Rs 300 crore and an OFS.

Under the offer for sale (OFS), existing shareholders will offload 2.85 crore equity shares, according to the draft red herring prospectus (DRHP) dated September 30.

Out of the fresh issue proceeds, Rs 250 crore has been earmarked for payment of debt, while the balance will be deployed towards general corporate purposes.

The company operates through three business verticals-- Integrated Facility Management (IFM), Emergency Response Services (ERS), and Environment & Sustainability Services (ESS) -- catering to clients across industrial, commercial, healthcare, education, government and transport infrastructure sectors.

BVG India provides soft services such as mechanised housekeeping, janitorial services, industrial housekeeping, manpower supply, security, office support and retail fuel outlet maintenance.

It also provides hard services including electro-mechanical works, mechanical, electrical and plumbing services, repairs and maintenance, road management, city cleaning and infrastructure upkeep; and specialised services like catering, paint-shop cleaning, back-office support, logistics management, and fleet operation, including EV bus management.

As of March 2025, BVG India had a workforce of over 85,000 operating across 2,218 active sites nationwide, making it one of the largest employers in the facility management space.

For FY25, the company reported revenue from operations of Rs 3,302 crore and profit after tax of Rs 207 crore.

The IPO will be managed by ICICI Securities, JM Financial and Motilal Oswal Investment Advisors.