Bharat Value Fund has invested INR 130 crore in the Veira Electronics pre-IPO funding round. This move is expected to accelerate Veira Group’s growth in India’s smart TV manufacturing space.
Veira Electronics Pre-IPO Funding: A Milestone for a Leading Consumer Electronics Company
Established in 1975, Veira Electronics is a leading consumer electronics company in India. It has two manufacturing units in Noida, UP. The company has a production capacity of 3 million televisions per annum, serving both domestic and international markets.
The company’s operations are accomplished by Automated Optical Inspection Systems (AOI) and Robotic Production Lines. It is claimed by the company that it manufacture a TV in only 5 seconds. We can assess the company’s production capacity based on this.
Financial Performance and Industry Outlook
Veira Electronics has shown impressive financials with 55% CAGR between FY22 and FY24. The company’s revenue in FY24 stands at INR 865 crore. India’s smart TV market is expected to grow at a CAGR of 17%, and it will be around INR 2.83 lakh crore by 2030. The contributing factors to this growth are additional income, increased OTT adoption, and internet penetration in rural areas.
Strategic Investment: Bharat Value Fund’s View on Veira Electronics
Madhu Lunawat, CIO, Bharat Value Fund said, “Our investment in Veira Electronics fits into our vision to support India’s TV market. Veira’s innovation, market expertise and advanced manufacturing capabilities make it a key player in the space. Bharat Value Fund is a Category II Alternative Investment Fund (AIF) managed by The Wealth Company (formerly Pantomath Capital Management) and invests in mid-market sectors in high growth profitable companies.
Veira’s Product Expansion and Market Strategy
In addition to televisions, Veira Electronics has expanded its portfolio to washing machines, air coolers and multimedia speakers. Veira’s TV range supports multiple operating systems – Tizen, WebOS, Google, Coolita and has display technologies – HD, FHD, 4K, LED, OLED, QLED. This wide range of products makes it an attractive destination for global TV brands entering the Indian market.
Ankit Mani, MD, Veira Group said, “At Veira Electronics, we want to be the leader in design manufacturing by delivering high-quality products at competitive prices through continuous innovation. Our end-to-end solutions cover R&D, sourcing, design, manufacturing, assembly, final testing and reverse logistics.”
In line with India’s Make in India and Atmanirbhar Bharat initiatives, Veira will soon be launching AI and IoT integrated products that will further enhance user experience and set new benchmarks in the industry.
Future Prospects
With the infusion of funds from Bharat Value Fund, Veira Electronics is poised for significant expansion. The company’s focus on technological advancements, market growth, and manufacturing excellence will drive its long-term success.
As the industry embraces Industry 4.0 manufacturing, Veira’s upcoming production facility is expected to maintain superior quality standards and automation-driven efficiency. This strategic partnership with BVF not only enhances shareholder value but also positions Veira Electronics as a leader in India’s consumer electronics sector.
The successful completion of Veira Electronics pre-IPO funding marks a major milestone, setting the stage for its public offering and reinforcing its role in shaping India’s dynamic smart TV manufacturing landscape.
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