Last updated on January 3rd, 2026 at 01:46 am
BVG India Limited is a leading facility-management and integrated services company in India, offering services such as housekeeping, infrastructure maintenance, environmental and sustainability-related services.
It also offers emergency response across industrial, commercial, healthcare, education, government, and transport sectors.
It has over 85,000 employees operating across 2,218 active sites nationwide.
BVG has filed DRHP to raise funds which includes Fresh issue of ₹ 200 Crore & Offer-for-sale (OFS) of 7,196,214 Shares by promoters.
Subscription date to apply for BVG India Limited is yet to be announced. Price band for the IPO is also pending to be declared.
| Issue Size: | ₹ 200 Crore + 7,196,214 Shares |
| Fresh Issue: | ₹ 200 Crore |
| Offer for Sale: | 7,196,214 Shares |
| Price Range: | TBA |
| Lot Size: | TBA |
BVG Limited important data points:
Revenue, PAT, EBITDA
| Year | Fiscal 2025 |
| Networth | ₹ 1365.2 Cr |
| Revenue: | ₹ 3319.5 Cr |
| EBITDA | ₹ 364.1 Cr |
| PAT | ₹ 207.2 Cr |
| EBITDA Margin: | ~11.03% |
| PAT Margin | ~6.24% |
| Face Value: | ₹ 02 per Eq. Share |
IPO important dates
| Open Date: | TBA |
| Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | TBA |
Use of Proceeds
| Purpose | Amount |
| Borrowing payment | ~ ₹ 250 Cr |
| Working Capital Requirement | – |
| General Corporate Purpose | Balance |
| Technology & Infrastructure | Nill |
BVG India Limited Promoters – Pre offer equity (Approx)
| Hanmantrao Ramdas Gaikwad | ~ 54.87% |
| Vaishali Gaikwad | ~ 2.88% |
| Vikash Vyankat Nipane | ~ 0.99% |
BVG India Ltd. Financial Data
| 2023 | 2024 | 2025 | |
| Revenue (₹ Cr) | ₹ 2,318.6 | ₹ 2,844.8 | ₹ 3,319.5 |
| Profit (₹ Cr) | ₹ 125.1 | ₹ 166.2 | ₹ 207.2 |
| Asset (₹ Cr) | ₹ 1,920.4 | ₹ 2,082.4 | ₹ 2,434.2 |
| Net Worth (₹ Cr) | ₹ 1,020.7 | ₹ 1,174.0 | ₹ 1,365.2 |
BVG India Ltd. IPO Grey Market Premium
| Date | IPO Price | IPO GMP | Profit per lot |
| 26-Dec | ₹ – | ₹ – | ₹ – |
| 25-Dec | ₹ – | ₹ – | ₹ – |
| 24-Dec | ₹ – | ₹ – | ₹ – |
| 23-Dec | ₹ – | ₹ – | ₹ – |
| 22-Dec | ₹ – | ₹ – | ₹ – |
BVG India Limited IPO Pros & Cons
Strengths:
- Strong pan-India presence with 2,200+ sites and diversified service portfolio
- Consistent revenue and profit growth, including FY25 PAT of ~₹207 crore, reflects solid financial momentum ahead of listing.
- Broad client base of 1,200+ enterprises lowers its dependency risk and provides stable recurring service
- IPO proceeds allocated to debt reduction, strengthening balance sheet quality and improving future cash-flow capability.
- Rising nationwide outsourcing of facility-management services offers strong long-term tailwinds supporting BVG’s scale-driven, multi-service operating model.
Risks:
- High employee-related costs and wage-sensitive operations could compress margins if labour regulations or compensation structure tightens.
- Large, distributed workforce across thousands of sites exposes BVG to service-quality lapses, compliance failures, and reputational damage.
- Non-ownership of the “BVG” trademark might create branding vulnerability if licensing or legal rights change unfavourably.
- Reliance on key sectors and major clients increases revenue risk in case of contract loss or sectoral downturn occurs.
- Heavy involvement in government and public-sector contracts increases exposure to tendering delays, regulatory changes, and unpredictable payment cycles.
BVG India Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | – | 1 | – | ₹ – |
| Retail (Max) | – | 13 | – | ₹ – |
| Small HNI (Min) | – | 14 | – | ₹ – |
| Small HNI (Max) | – | 66 | – | ₹ – |
| Big HNI (Min) | – | 67 | – | ₹ – |
Core Offerings of BVG India Limited
It provides integrated facility-management services including mechanised housekeeping, janitorial & industrial housekeeping, manpower supply, security, electro-mechanical & plumbing maintenance, infrastructure upkeep, solid waste management, emergency response services, and environment & sustainability services.
Lead Managers / Registrars of BVG India Limited
| Lead / Book Running Lead Managers | ICICI Securities Ltd, JM Financial Ltd, Motilal Oswal Investment Advisors Ltd |
| Registrar (RTA) | MUFG Intime India Pvt Ltd |
Founding Year of BVG India Limited & Managing Director
BVG India Limited was incorporated on 20th March 2002.
Mr. Hanmantrao Gaikwad is the Managing Director of BVG India Limited.
BVG India Limited FAQ
- Q1. What is the business of BVG India Limited?
Last updated on January 3rd, 2026 at 01:46 am
BVG India delivers soft services like housekeeping, manpower, security & hard services like electro‑mechanical/MEP maintenance, infrastructure upkeep, emergency response services and environment & sustainability operations. - Q2. Why is the company raising funds via IPO?
Last updated on January 3rd, 2026 at 01:46 am
BVG is raising fund to repay existing debt and the balance for general corporate purposes strengthening the balance sheet and enabling future growth. - Q3. What is the size of the issue and where will it list?
Last updated on January 3rd, 2026 at 01:46 am
The IPO issue size comprises a fresh issue of up to ₹ 200 crore and an Offer for Sale of up to 7,196,214 Shares. It will be listed on the BSE & NSE platform. - Q4. What are the risks to an investor?
Last updated on January 3rd, 2026 at 01:46 am
Risks to investing in the IPO include heavy reliance on labour‑intensive operations, exposure to regulatory and compliance issues, dependence on government contracts and sensitivity to client retention or contract renewals. - Q5. What are the potential upsides?
Last updated on January 3rd, 2026 at 01:46 am
The potential upside includes its large manpower of 85,000+ employees across 2,218 active sites, ₹3,302 crore revenue and ₹207 crore PAT in FY25, signifying efficient operation. - Q6. How to apply for the IPO?
Last updated on January 3rd, 2026 at 01:46 am
You can apply for the IPO via the standard IPO application process (e.g. ASBA via net‑banking or via their broker), once the issue opens - Q 7. When is the tentative listing date?
Last updated on January 3rd, 2026 at 01:46 am
Expected listing date is yet to be announced.
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