Silver Consumer Electricals Pvt Ltd completes Rs. 4000 million private placement round

Mumbai (Maharashtra) : Silver Consumer Electricals Private Limited based in Rajkot, Gujarat, has announced the completion of its private placement round at a valuation of Rs. 4000 Million. Mr. Arpit Khandelwal, Managing Partner of Plutus Wealth Management LLP, and Pantomath Capital Management Pvt Ltd’s India Inflection Opportunity Fund each invested 10% in the company. Pantomath Capital Advisors Private Limited served as the transaction’s sole investment banker.

Silver is one of the most rapidly growing consumer electronics companies. The company’s product portfolio is diverse, including pumps, motors, and fans, as well as other related segments. Silver is an important component of several leading conglomerates, with a significant revenue share.

Silver has developed in-house capabilities for developing and manufacturing consumer electrical products that require precision and stringent quality testing, backed by state-of-the-art production blocks and R&D facilities spread across 30 acres of land near Metoda, Rajkot. The plants are fully backward integrated, reducing reliance on imports. Silver’s manufacturing facility is the largest consumer electronics plant under one roof.

Silver was established in the year 1981 by Mr. Dharamshi Bhai Bediya. Vinit Bediya, his son, later joined the company in 2018. Vinit, a 29-year-old entrepreneur, has quadrupled the company’s size in three years. Mr. Vinit Bediya graduated from BITS Pilani with a degree in mechanical engineering. He is a dynamic leader, visionary, and strategic thinker who strives for excellence. Vinit, a firm believer in Karma, is the driving and inspiring force behind the company’s transformation into a leading global brand. He has achieved an ownership-driven work culture supported by a strong value system and high corporate governance standards through his leadership and a completely new perspective on the workforce. SAP, in-house R&D, real-time quality checks, multiple audit controls, and other robust systems and processes empower the company.

“Silver is committed to serving customers with a product experience with made-in-India solutions,” said Mr. Vinit Bediya, MD of Silver, at the event. Silver’s hallmarks are research, innovation, and a transparent value-based working culture. We intend to be a leading home-grown platform with world-class systems that serves global markets. We welcome our investors and are confident that all stakeholders will be pleased with Silver.”

“We are considering both organic and inorganic growth. We are in preliminary talks with a couple of companies about forming a strategic alliance with Silver. We are working on a massive expansion plan, and after our private placement round, we intend to accelerate our growth trajectory.” Vinit Bediya also contributed.

Silver would be exposed to global opportunities with the addition of Arpit Khandelwal and India Inflection Opportunity Fund, as well as the desired financial acumen. The India Inflection Opportunity Fund invests in and supports Indian businesses with a make-in-India focus that serve rural markets while making an impact.

We are interested in consumer electrical businesses that have established criticalities in the value chain of leading industry players. Such enterprises are massive in scope. We believe Silver Consumer Electricals is well-positioned to capitalise on their innovation capabilities as well as superior engineering skills. “We are excited to be a part of Silver’s long-term growth journey, which is being led by extremely professional and highly learned promoters with long-standing impeccable business relationships with their stakeholders,” said Arpit Khandelwal, Managing Partner of Plutus Wealth Management.

Ms. Madhu Lunawat, CIO & Fund Manager of India Inflection Opportunity Fund, stated about its Silver investments, “We are elated to announce our investment in Silver Consumer Electricals, which is led by a 29 year young dynamic new-gen entrepreneur, Vinit Bediya. Silver is an excellent fit for our Fund’s investment theme of Make-in-India and rural consumption. Silver’s young and agile team has demonstrated a strong business foundation, including a fully integrated mega manufacturing facility, effective systems and controls, a potent revenue mix of B2B and B2C, and so on. It’s encouraging to see the rate at which the business is expanding. We are confident that Silver Consumer Electricals will not only provide optimal shareholder returns.”

Silver is a critical Make-in-India component, directly contributing to and supporting India’s macroeconomic priorities of rural electrification, agricultural pumps, and irrigation solarization. Farmers have been the unsung heroes of the Indian ecosystem, contributing to the country’s economy, which is dominated by agriculture. Silver has always believed in providing high-quality products and has collaborated with farmers to save energy and increase yield. Among other things, the PM-KUSUM scheme is one area where silver is actively focusing on empowering farmers by providing energy-efficient pumps powered by solar energy, allowing farmers to not only save money on electricity but also earn money from it, thereby boosting the Indian economy and aligning with our honourable PM’s vision.

Silver has always been at the forefront of innovation, inventing, designing, and developing high-quality products at reasonable prices. The company offers a diverse range of pumps and motors to the agricultural, industrial and manufacturing, household, and energy markets. It has also built a massive factory to produce fans and other electrical accessories.