BVG India Limited, the country’s largest integrated facility management (IFM) services provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its Initial Public Offering (IPO).
The proposed IPO includes a fresh issue of equity shares worth ₹300 crore and an offer for sale (OFS) of up to 2.85 crore equity shares by existing shareholders. Of the fresh issue proceeds, ₹250 crore will go toward repayment or prepayment of borrowings, with the remainder earmarked for general corporate purposes.
Founded in Pune, BVG India operates across three key business verticals — Integrated Facility Management (IFM), Emergency Response Services (ERS), and Environment & Sustainability Services (ESS) — catering to industrial, commercial, healthcare, education, government, and infrastructure sectors.
Under IFM, the company offers a wide range of services, including mechanised housekeeping, security, industrial maintenance, MEP (mechanical, electrical, and plumbing) services, and EV fleet management. It is also a trusted partner of Indian Railways, managing station facilities, track maintenance, and onboard housekeeping.
Through ERS, BVG pioneered India’s police emergency response system and introduced doctor-staffed ambulances with advanced medical equipment — setting new benchmarks in public safety and emergency healthcare. Its ESS division handles waste management, landscaping, afforestation, lake rejuvenation, smart city projects, and solar energy services.
As of March 31, 2025, BVG India employed over 85,000 people across 2,218 sites nationwide, making it one of India’s largest employers in the facility management space. For FY25, the company reported revenue of ₹3,301.8 crore, total income of ₹3,319.5 crore, and profit after tax of ₹207.2 crore, translating into a Return on Equity (ROE) of 17.44%.
ICICI Securities, JM Financial, and Motilal Oswal Investment Advisors are the book-running lead managers for the issue, while MUFG Intime India will act as the registrar.
Globally, the outsourced facility management market, valued at USD 1,030 billion in 2024, is projected to grow to USD 1,495.1 billion by 2029, at a CAGR of 7.7%. With India’s growing infrastructure investments, smart city projects, and rising demand for sustainable solutions, BVG India is well-positioned to capitalize on this growth and reinforce its leadership in integrated facility management and allied services.
