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, ..