Bharat Value Fund (BVF) invests Rs 130 crore in Veira Electronics

Bharat Value Fund (BVF) has invested Rs 130 crore in Veira Electronics Private Limited, an Indian manufacturer specialising in consumer electronic products.

The investment marks successful closure of its pre-IPO placement round.

Veira Group's presence

Established in 1975, Veira Group operates two state-of-the-art facilities in Noida, Uttar Pradesh, enabling the production of up to 3 million TVs annually for both domestic and international markets.

The company said that these facilities are equipped with modern technologies, including vacuum-controlled, zero-dust clean rooms, AOI machines, and robotic production lines, ensuring high standards of quality and efficiency.

The company claims that it can manufacture one LED TV every 5 seconds with the current set up. Its extensive TV portfolio incorporates various operating systems such as Tizen, WebOS, Google, and Coolita, covering all categories, including HD, FHD, 4K, LED, OLED, and QLED, making it a one-stop solution for every brand’s requirement.

Leadership comments

Ankit Mani, Managing Director, said, “Veira Group aims to lead the field of design manufacturing by offering customers superior quality products at competitive prices through continuous technological innovations. We are a complete end-to-end solution provider for brands entering the Indian market, with a dependable team offering R&D, sourcing, design, manufacturing, assembly, final testing, and reverse logistics services.”

He further added, “by combining our market expertise with BVF’s robust financial backing, we are well-positioned to maximize shareholder value and drive sustainable growth. This collaboration sets the stage for creating long-term economic value, ensuring a prosperous future for all stakeholders.”

"The company’s financial performance has been impressive, with sales growing at a 55% CAGR between FY22-24, reaching INR 865 crore in FY24. India's smart TV manufacturing industry, valued at USD 11.53 billion in 2023, is projected to reach USD 32.57 billion by 2030, growing at a CAGR of 17%. Key growth drivers include rising disposable incomes, increased internet penetration, and the growing adoption of OTT streaming services," said Madhu Lunawat, CIO of Bharat Value Fund.