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 comprises a fresh issue of equity shares aggregating up to ₹300 crore and an offer for sale (OFS) of up to 2.85 crore equity shares by existing shareholders. Of the net proceeds from the fresh issue, ₹250 crore will be utilized for repayment or prepayment of borrowings, while the remaining funds will be allocated toward general corporate purposes.
Operating through three verticals — Integrated Facility Management (IFM), Emergency Response Services (ERS), and Environment & Sustainability Services (ESS) — BVG India caters to a wide range of clients spanning industrial, commercial, healthcare, education, government, and transport infrastructure sectors.
Under its IFM division, the company provides both soft and hard services, including mechanized housekeeping, manpower and security services, MEP operations, infrastructure maintenance, and specialized services like catering, logistics management, and EV fleet operations. BVG India is also a key partner to Indian Railways, managing station facility operations, rolling stock and track maintenance, and onboard housekeeping.
Through its Emergency Response Services (ERS) division, BVG India pioneered India’s police emergency response model and introduced doctor-staffed ambulances equipped with advanced medical devices, setting new standards for emergency healthcare delivery. Meanwhile, its Environment & Sustainability Services (ESS) vertical undertakes projects in waste management, landscaping, afforestation, smart city development, and solar module production and installation.
As of March 31, 2025, the company employed over 85,000 personnel across 2,218 active sites nationwide, making it one of the largest employers in the facility management sector. For FY25, BVG India reported revenue from operations of ₹3,301.8 crore, total income of ₹3,319.5 crore, and a profit after tax of ₹207.2 crore, reflecting a healthy Return on Equity (ROE) of 17.44%.
The IPO will be managed by ICICI Securities Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Limited, with MUFG Intime India Private Limited acting as the registrar.
Globally, the outsourced Facility Management (FM) market — valued at USD 1,030 billion in 2024 — is projected to grow at a CAGR of 7.7% to reach USD 1,495.1 billion by 2029. Rising infrastructure investments, rapid industrialization, the adoption of smart building solutions, and increasing government contracts for sustainable infrastructure are expected to drive the sector’s growth.
With its diversified service portfolio, leadership position, and proven execution capabilities, BVG India is strategically positioned to capitalize on the expanding FM market and strengthen its role as a pioneer in integrated facility management and sustainability-driven services in India.
