Silver Consumer Electricals Closes Up-Round; Valued at Rs. 1,000 Crores

PNN
Ahmedabad (Gujarat) [India], June 1: Founded in 1981, Silver Consumer Electricals Pvt Ltd is one of the fastest-growing highly integrated consumer electrical companies, having a diversified product portfolio comprising Pumps, Motors, and Fans.
Silver is at the helm of its transformative capex journey wherein the company has built state-of-the-art in-house capabilities for developing and manufacturing consumer electrical products driven by strong R&D, precision and stringent quality testing. The company recently backward integrated in the existing verticals of pumps and motors and has also commissioned its fan unit with an annual capacity 84 lakh units. It is foraying into agricultural implements, lighting and small kitchen appliances via the funds raised.
* Rajkot-based Silver is one of the fastest-growing Integrated Consumer Electricals companies having a wide range of Pumps, Motors and Fans in its portfolio;
* Marquee Investor Arpit Khandelwal, Managing Partner of Plutus Wealth Management LLP, picked up an additional 15% stake in the company;
* Pantomath Capital Advisors Private Limited acted as the sole Investment Banker to the transaction.
In the recent past, the Company shifted its manufacturing facility to an integrated plant of 30 acres and shall have a total built-up area of 14 lakh sq. ft., making it one of the largest single-roof plants of its kind in the country.
Currently run by Vinit Bediya, 30, a mechanical engineer from BITS Pilani; Silver has demonstrated four-fold growth in its business in the last 3 years, which Vinit bestows to his whole new perspective toward the workforce and strong belief in delivering quality and excellence. He has been able to achieve an ownership-driven work culture backed by a strong value system and high standards of corporate governance.
Commenting on the occasion, Vinit said, "With its state-of-the-art infrastructure and backward integrated manufacturing, Silver is uniquely positioned to play a significant role in India's emergence as a global manufacturing hub. Further confidence shown by our existing investor by participating in the up-round is another validation that we as an organisation are on the right path to achieve our long-term goals."
"We are glad to enhance our participation in Silver. The Company has established mega capacities and possesses a massive scale. We believe that Silver is well-placed to leverage their innovation capabilities coupled with superior engineering skills." remarked Arpit Khandelwal, Managing Partner of Plutus Wealth Management.
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)