Indonesia-based infrastructure company PT Bach Multi Global is seeking to raise up to 307.5 billion rupiah ($17.2 million) through an initial public offering, becoming the third company to publish a prospectus with the country’s stock exchange on Monday.
The company plans to offer 615 million new shares, equivalent to 15.06% of its enlarged capital, at a price range of 400-500 rupiah apiece. At the top end of the range, the offering could raise as much as 307.5 billion rupiah. The shares are scheduled to begin trading on the Indonesia Stock Exchange on July 7.
Bach Multi Global joins diagnostics manufacturer PT Prodia Diagnostic Line and eye-care hospital operator PT Nitrasanata Dharma in launching IPO processes on June 22.
If the timetable proceeds as planned, Bach Multi Global is set to debut on July 7 alongside PT Nitrasanata Dharma and food producer PT Niramas Utama, creating an unusually busy day for new listings on the Indonesia Stock Exchange.
Founded in 2006, Bach Multi Global operates in the telecom contractor and power systems sectors, providing generator set sales and rental services alongside telecom infrastructure construction and maintenance.
Bach Multi Global’s controlling shareholder is PT Global Telekomunikasi Prima, a subsidiary of Indonesia-listed telecom infrastructure company PT Sarana Menara Nusantara Tbk. Sarana Menara Nusantara, part of the Djarum Group-controlled Sampoerna Strategic ecosystem, is one of Indonesia’s largest digital infrastructure operators through its Protelindo and iForte businesses.
As of September 2025, the group owned more than 36,000 telecom towers and over 170,000 km of fibre-optic networks nationwide.
Bach Multi Global joined the Sarana Menara Nusantara group in 2023 following a change in ownership. The affiliation has positioned the company to benefit from Indonesia’s continuing telecom infrastructure expansion, particularly as operators and tower companies invest in network upgrades and fibre deployment.
Management sees favourable industry tailwinds for both of its core businesses. The prospectus cited projections showing Indonesia’s generator set market could expand from $679.5 million in 2024 to $1.76 billion by 2035, driven by industrial development, infrastructure projects, mineral downstreaming initiatives and growing demand for reliable backup power. At the same time, rising data consumption and the continued rollout of 4G and 5G networks are expected to support demand for telecom infrastructure services.
Bach Multi Global’s revenue increased to 1.73 trillion rupiah in 2025, up by 39.5% from a year before, while operating profit nearly doubled to 220.1 billion rupiah in 2025. The company’s profit before tax also climbed to 201.9 billion rupiah in 2025, up by 90.4% compared with 106 billion rupiah in 2024.
The company plans to use approximately 91 billion rupiah of the IPO proceeds to partially repay a long-term loan from PT Bank Permata Tbk. The remaining 213.5 billion rupiah will be used as working capital, primarily to fund purchases of generator sets for its sales and rental operations.
The IPO will also pave the way for a post-listing ownership restructuring. Under an option agreement disclosed in the prospectus, PT Global Telekomunikasi Prima will increase its stake in Bach Multi Global to 51% following the listing. The transaction is expected to be completed within five business days after the shares begin trading, further integrating the company into the Sarana Menara Nusantara ecosystem.
PT Erdikha Elit Sekuritas is acting as the sole lead underwriter for the offering.
