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Facility management service provider BVG India has received necessary approvals to raise Rs 300 crore through an initial public offering (IPO), a top company official said on Sunday.
Last year in September, BVG India had filed its preliminary papers with market regulator Sebi to raise funds through an initial public offering (IPO) comprising a fresh issue of equity shares 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, 2025.
"The DRHP has been filed, and we have received the necessary approvals. So yes, the process is on," BVG India CEO Rupal Sinha told PTI.
Sinha said in the DRHP, the company has disclosed that it will raise Rs 300 crore to just retire some of its loans and support the growth development.
"This all will be more market-driven mechanism," she said.
The company reported revenue from operations of Rs 4,128 crore and profit after tax of Rs 284 crore in 2025-26. 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.
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