BVG India Unlisted Share

Private equity firm 3i Group-backed BVG India, which claims the largest integrated facility management services provider in India, has refiled its draft papers with the SEBI after four years of its previous DRHP filing, for raising funds via initial public offering (IPO).

As per the preliminary papers, the company plans to mobilise Rs 300 crore by issuing new shares, while existing shareholders will be selling 2.85 crore shares via offer-for-sale.

Promoter Hanmantrao Gaikwad, and investors Strategic Investments FM (Mauritius) Alpha and Strategic Investments FM (Mauritius) B (an affiliates of private equity investor 3i Group) will be major selling shareholders in the offer-for-sale.

Earlier, as per the DRHP dated September 30, 2021, it had planned fresh issue of Rs 200 crore worth shares and an offer-for-sale of up to 16.98 lakh shares, but the capital markets regulator returned those IPO papers in March 2023.

Promoters own 58.74 percent shareholding in BVG India, while the remaining 41.26 percent shares are held by public shareholders including Strategic Investments Alpha (21.89 percent stake) which is the largest shareholder after promoter Hanmantrao Gaikwad (54.87 percent).