IPO
Product engg firm VVDN Technologies readies for Rs.5,000-Cr IPO
Gurugram-based VVDN Technologies is planning to raise between INR 4,000 Cr and INR 5,000 Cr through an initial public offering (IPO). The transaction is expected to comprise a mix of fresh capital and an offer for sale. The company has initiated informal talks with investment banks and expects to begin formal pitches over the coming quarter.Founded by Bhupender Saharan, Puneet Agarwal, and Vivek Bansal, the firm provides product engineering and electronic manufacturing solutions across segments including 5G, datacenter, wireless, artificial intelligence, IoT, and automotive. VVDN plans to use the funds as it focuses on meeting internal revenue and profitability milestones, while also continuing to invest in research and development, testing infrastructure, and manufacturing facilities in India.The firm has raised over USD 129 million in funding rounds since its inception in 2007. Investors, including Motilal Oswal Private Equity and LV Holdings Private Family Trust, collectively hold approximately 36% of the company. As of June 2024, the company was valued at 274 million USD.
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