Liquidity Events
Agri-equipment seller Silver Consumer Electricals closes Rs.150-Cr secondary share sale
Rajkot-based Silver Consumer Electricals has concluded a secondary share sale valued at about INR 150 crore. The transaction involved a promoter group member, Dharamshibhai Mohanbhai Bediya, transferring 73,15,288 equity shares to investor Riyaz Suterwala. Following this sale, Suterwala holds a 2.59% stake in the firm.Founded in 1981, the company manufactures pumps, motors, and agricultural equipment under the 'Silver' brand. It serves residential, agricultural, and industrial sectors through integrated manufacturing operations.The firm had filed a draft red herring prospectus with sebi to raise INR 1,400 crore through an initial public offering - consisting of a fresh issue of equity shares worth INR 1,000 crore and an offer for sale of INR 400 crore by promoter Vinit Dharamshibhai Bediya. The firm intends to use the proceeds from the IPO to repay debt.
In Dec 2022, Silver Pumps & Motors had attracted about $6-M from Plutus Wealth Management and The Wealth Company . In May 2024, India Inflection Opportunity Fund, managed by Pantomath Capital Management, exited the company by selling its shares to a late-stage fund.For FY25, Silver Pumps & Motors had reported about Rs.1,586.38 Cr in Operating Income and about Rs.46.49 Cr in PAT.
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