VVDN has already been approved as a participant in several PLI schemes including the Telecom PLI, Hardware PLI and White Good PLI. India contributes around 40 percent of VVDN’s revenue whereas the rest 60 percent is from other countries
Homegrown VVDN is evaluating taking the Initial Public Offering (IPO) route. The company might file for the same within one to two years time, sources close to the developments told Electronics For You & Electronics B2B. It is not clear on the number of shares the company will be putting in the market via the IPO route.
“The policies have been stable in the last five to six years. These have not only encouraged VVDN, but many others companies from India’s electronics manufacturing ecosystem to go pubic,” said someone close to the development.
The increasing market size for design and manufacturing of electronics in India is also a major encouraging factor for the company to evaluate an IPO. VVDN is looking to expand its services and it will be requiring a lot of investment for the same.
“The market within India, and outside, are presenting a lot of opportunities. VVDN being established as a Make in India brand is looking to make for the world. If you look at recent reports, there are clear signs that this and the next decades are going to be about everything electric. This is the right time for VVDN to file for IPO and go public,” added the source.
It is worth mentioning here that the company has already been approved as a participant in several PLI schemes including the Telecom PLI, Hardware PLI and White Good PLI. The company had recently announced that it has started the complete design, development and manufacturing of ‘Make in India’ tablets for domestic and global OEMs and customers. As a matter of fact, it is the first company to do the complete in-house design, development and manufacturing of Tablets in India, from concept to creation.
“VVDN was started in 2007. Me and all the other founders of VVDN were in California when we started thinking of starting the organisation. It was clear to all of us that we would make VVDN a company that offered complete product engineering services. We knew what we had envisaged was not usual as India had been a software-centric country,” VVDN CEO Puneet Agarwal had told Electronics For You in a recent conversation. (Read Here)
He had added, “The customers have started looking at India as a blue-eyed country. We want to make sure that we create an infrastructure that enables us to grab these opportunities—whether it is electronics assembly lines, or mechanical facilities like moulding and injection, or R&D labs.”
Presently, India contributes around 40 percent of VVDN’s revenue whereas the rest 60 percent is from other countries. The electronic product engineering and manufacturing company has five manufacturing units and 10+ design centers across India.
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