Rajkot-based Silver Consumer Electricals Pvt. Ltd has raised INR 4Bn in Private Equity Round led by India Inflection Opportunity Fund, managed by Plutus Wealth Management LLP, along with Arpit Khandelwal, and Pantomath Capital Management Pvt Ltd along with Madhu Lunawat, participated in the funding round, taking 10% each. Pantomath Capital Advisors was the sole investment banker for the transaction.
Silver Consumer Electricals Pvt. Ltd has built capabilities for developing and manufacturing consumer electrical products by setting up production blocks and R&D facilities in Metoda, Rajkot spread across 30 acres of land as a part of its product portfolio diversification plans.
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“Looking at organic and inorganic growth, we are in advanced discussions with a couple of businesses for a strategic tie-up with Silver. We are working on an expansion plan and post our private placement round, we are looking at preponing our growth trajectory,” promoter Vinit Bediya said.
Founded in 1981 by Dharamshi Bediya, Silver Consumer Electricals primarily manufactures pumps and motors catering to agriculture, industrial manufacturing, household, and energy segments. The firm claims to have over 1,000 employees on its payroll, with a production capacity of over 10 lakh pumps per year.
“Silver fits into our investment theme of Make-in-India and rural consumption,” Madhu Lunawat, chief investment officer & fund manager of India Inflection Opportunity Fund said.