BVG India Plans To Raise Rs 300 Crore Via IPO — Key Details From Offer Document

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BVG India Ltd., an integrated facility management services provider, has applied for an initial public offering of shares to raise capital. The company plans to offer equity shares worth up to Rs 300 crore, according to the draft red herring prospectus.

Eight existing shareholders have offered to sell up to 28,548,007 equity shares of face value of Rs 2 each via an offer for sale (OFS).

Strategic Investment Group, a US firm with approximately $38 billion of assets under management, will participate in the OFS. The firm has a stake of nearly 27% in the company.

Chairman and Managing Director Hanmantrao Gaikwad, who owns 54.87% of pre-IPO equity and designated promoter, will also offload shares.