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Bharat Vikas Group set to rope in a global PE investor

Raghuvir Badrinath  |  Chennai/ Bangalore 

Promoters, Kotak PE to cut stake in a deal valued at Rs 800 cr

Bharat Vikas Group, a Rs 300 crore facilities management company, is attracting the eyes of global private equity investors in a deal being valued at Rs 800 crore. The promoters — led by & Umesh Mane, along with are expected to reduce their stake in this company which can arguably be termed as a rags to riches journey.

(BVG) provides services such as mechanised housekeeping, landscaping & gardening, and security services to private and government institutions with the help of a 16,000-strong ready-to-move and trained and pan-India workforce. BVG has around 300 clients in India including Tata Motors, M&M, Wipro, Accenture, Whirlpool, ITC, HUL, Indian Railways, ONGC, Indian Navy among other.

Tata Motors is the big-gest client for BVG while the company broke into the big league when it bagged the contract to maintain the library at Parliament House. BVG’s other notable clients include residence and office of the Prime Minister and

Investment bankers close to the deal indicates that a deal is expected to be finalised during the next one month. has invested Rs 30 crore for a minority stake nearly three years ago. The management of confirmed that they are looking at various options to grow their business and a decision is expected to finalised shortly.

Senior officials in the private equity industry did confirm that they are looking at given the fact that it is an interesting proposition, but are a little wary of the valuation being claimed. “It is indeed a good scalable business. However, margins may be under strain going forward as the company seeks to expand,” noted a PE executive who has seen the proposal of Bharat Vikas Group. Avendus is understood to be advising BVG on this deal.

First Published: Wed, December 22 2010. 00:26 IST