KuberGrow Team Noida, India – March 4, 2025: Consumer electronics company Veira Electronics has raised ₹130 crore from Bharat Value Fund (BVF) in its pre-IPO round, preparing itself for its upcoming stock market listing. The strategic round will help Veira consolidate its position in India’s rapidly growing smart TV segment, which is projected to reach USD 32.57 billion by 2030.
Veira Electronics, which deals in a variety of LED TVs, washing machines, air coolers, and multimedia speakers, has two cutting-edge manufacturing facilities in Noida, Uttar Pradesh. With a production capacity of 3 million TVs per year, the facilities cater to both domestic and international markets.
The company offers a broad range of televisions with Tizen, WebOS, Google, and Coolita operating systems across HD, FHD, 4K, LED, OLED, and QLED segments. Its financials have been robust, with top-line growth at a 55% CAGR to ₹865 crore in FY24.
India’s smart TV market stood at USD 11.53 billion in 2023 and is expected to expand at a CAGR of 17%. The growth is being fueled primarily by increasing disposable incomes, increasing internet penetration, and increasing demand for OTT streaming services.
Madhu Lunawat, CIO of Bharat Value Fund, pointed out the fund’s belief in Veira’s potential to shape India’s TV manufacturing industry. He further stated that their investment is in line with their vision to back leading players driving innovation in the fast-paced smart TV space.
Bharat Value Fund is a mid-market fund that specializes in investing in profitable growth-stage companies. With the financial backing of BVF, Veira is now ready to grow at a quicker rate and deliver shareholder value.
Ankit Mani, MD, Veira Group, stressed that this tie-up is crucial to the company as it improves its bottom line and provides avenues for long-term sustainable growth. He is optimistic about the future and the potential of the company to generate huge value for stakeholders.
This successful IPO pre-fundraising round places Veira Electronics in the best position possible for its future listing as it looks to capitalize on India’s growing smart TV demand.
