Upcoming IPO: BD Securities gets NSE approval to raise funds via public issue

Upcoming IPO: BD Security Limited (BDS), a security services provider and Telecom O&M has received approval has received in-principle approval from the National Stock Exchange (NSE) for its draft red herring prospectus (DRHP) to launch an initial public offering (IPO).

The company’s IPO consists of a fresh issue of up to 44,56,000 equity shares, each with a face value of ₹10.

It plans to use the proceeds raised from the IPO to meet its working capital requirements and for general corporate purposes.

“The National Stock Exchange (NSE) has approved the Draft Red Herring Prospectus of BD Security Limited for its IPO. The company is going public through an IPO to meet its working capital requirements and for general corporate purposes,” the company said in a statement.

For the upcoming IPO, the company has appointed Beeline Capital Advisors Private Limited as the Book-Running Lead Manager, while Skyline Financial Services Private Limited will serve as the Registrar.

On October 17 2024, the company filed draft papers to raise funds through IPO.

About BD Security Limited

BD Security Limited, established in 2006, specialises in providing security services, telecom operations, and maintenance (O&M) services

The company provides security services to varied sectors, including the deployment of security personnel, surveillance systems, and risk management services. These services cater to industries such as banking, telecom, hospitality, healthcare, and manufacturing. Their services include installation, troubleshooting and network integrity maintenance.

The company provides security services and O&M assignments in several regions across the country, including Jammu & Kashmir, Punjab, Himachal Pradesh and Tamil Nadu.

In the quarter ended on March 31, 2024, the company reported net profit of nearly ₹8 crore. The revenue for the same quarter was ₹118.59 crore, while EBITDA was ₹14.24 crore.

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