BVG India has received the Securities and Exchange Board of India’s (SEBI) approval to raise Rs 300 crore through an initial public offering (IPO) comprising a fresh issue of equity shares and an offer for sale (OFS). Under the OFS, existing shareholders will offload 2.85 crore equity shares.
The company will raise Rs 300 crore to just retire some of its loans and support the growth development. The IPO will be managed by ICICI Securities, JM Financial and Motilal Oswal Investment Advisors.
BVG India is the largest and leading integrated facility management (IFM) services provider in India. The company offers a wide range of integrated services, broadly categorized into IFM, Emergency response services (ERS) and Environment and sustainability services (ESS).
