B͏VG I͏ndi͏a F͏iles͏ DRHP f͏o͏r͏ ₹3͏0͏͏0 C͏ror͏e͏ Fresh͏ Issue an͏d͏ OFS͏ of 2.85͏ C͏ro͏re S͏har͏es͏

Mumbai, 1͏ Octob͏er͏ 2͏͏025͏͏: B͏VG Ind͏i͏a ͏Lim͏ited ͏h͏͏͏as s͏u͏bm͏itted it͏s Draft R͏͏ed ͏Herr͏i͏͏n͏g Prospectus (DRHP͏) to the S͏ec͏urit͏ies ͏a͏n͏d E͏x͏c͏h͏ange͏ ͏B͏o͏ard͏ of In͏dia (SEBI)͏͏ f͏or an initi͏al͏ publ͏ic͏͏ off͏ering (͏IPO͏)͏.͏ T͏he is͏͏͏͏s͏ue͏ i͏nc͏͏lud͏͏es a f͏res͏h issue of equit͏y shar͏e͏s wort͏͏͏h up ͏to ₹300 cro͏͏re ͏a͏nd͏ a͏͏n͏ offer f͏o͏r ͏sale (OFS) of up to 2.85 crore shares by existing shareholders. The proposed listing will take place on both the BSE and NSE, with the price band and issue timelines to be announced closer to the launch.

Headquartered in Pune, BVG India Limited operates as the largest integrated facility management (IFM) services provider in India. As of 31 March 2025, the company employed 85,000 people across 2,218 operating sites, serving clients in industrial, commercial, healthcare, education, government, and transport infrastructure sectors. Its diversified portfolio includes soft and hard FM services, emergency response operations, and sustainability-driven solutions, positioning it as a key player in India’s expanding IFM industry.

Fresh Issue of ₹300 Crore and OFS of 2.85 Crore Shares Set to Reshape Ownership Structure

The offering combines capital infusion through a ₹300 crore fresh issue alongside an OFS that allows current investors, including the promoter and Mauritius-based shareholders, to pare holdings. This dual structure reflects the company’s attempt to reduce borrowings while providing exit opportunities to existing investors. BVG has also kept the option of a pre-IPO placement worth up to ₹60 crore, which would proportionally reduce the fresh issue size if executed.

Debt Repayment of ₹250 Crore Planned Through IPO Proceeds

Out of the total fresh issue, ₹250 crore has been earmarked for repayment or pre-payment of borrowings, with the remaining proceeds to be directed towards general corporate purposes within regulatory limits. The emphasis on deleveraging highlights the company’s focus on strengthening its balance sheet by reducing borrowings of ₹483.2 crore recorded at the end of FY25. Lower debt is expected to ease interest costs and improve cash flows, while also enhancing operational flexibility in a competitive sector.

BVG India Reports FY25 Revenue of ₹3,301.8 Crore and PAT of ₹207.2 Crore

For FY25, BVG India posted revenue from operations of ₹3,301.8 crore, with a total income of ₹3,319.5 crore. Its profit after tax stood at ₹207.2 crore, delivering a Return on Equity (ROE) of 17.44%. The company maintained a net worth of ₹1,365.2 crore, while cash and equivalents closed the year at ₹159.7 crore. The results indicate stable profitability backed by a large operational footprint, though challenges such as receivable days at 114 reflect the need for tighter working capital management.

Lead Managers ICICI Securities, JM Financial and Motilal Oswal to Steer IPO

The IPO is being managed by ICICI Securities, JM Financial, and Motilal Oswal Investment Advisors, with MUFG Intime India Private Limited serving as registrar. The final pre- and post-offer shareholding patterns will be confirmed in the Red Herring Prospectus (RHP).

BVG India’s DRHP filing signals a strategic push to strengthen its financial structure while enabling partial exits for existing shareholders. With a strong presence in facility management and government-linked contracts, the company’s performance and IPO progress will be closely monitored in the run-up to its listing on the Indian exchanges.

Source: Draft Red Herring Prospectus of BVG India Limited dated September 30, 2025. All figures are as disclosed in the DRHP; timelines, price band and certain allocations will be finalized at the RHP stage.

REF: https://www.bseindia.com/corporates/download/303783/IPO Prior/DRHP_20250930233925.pdf

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