VVDN Technologies Sets Sights on IPO After Hitting $1 Billion Revenue Mark
VVDN Technologies, a Gurugram-based contract manufacturing firm, plans to pursue an IPO after reaching $1 billion in annualized revenue. The company reported revenue of 2,145 crores in FY23 and projects 3,500-3,800 crores for FY25. VVDN has raised $65 million in funding and specializes in producing electronic products like 5G base stations, Wi-Fi routers, and AI servers. To expand globally, VVDN is establishing manufacturing bases in the UAE, US, and India, with US exports currently contributing $150 million annually.
*this image is generated using AI for illustrative purposes only.
VVDN Technologies, a Gurugram-based contract manufacturing firm, has announced its intention to pursue an initial public offering (IPO) once it reaches a significant financial milestone. The company aims to go public after achieving an annualized revenue of $1 billion, according to cofounder Vivek Bansal.
Financial Performance and Projections
VVDN Technologies has shown impressive growth in recent years:
| Fiscal Year | Revenue (in crores) |
|---|---|
| FY23 | 2,145.00 |
| FY25 (Projected) | 3,500.00 - 3,800.00 |
The company's revenue projections for FY25 indicate a substantial increase from its FY23 performance, showcasing its rapid growth trajectory.
Funding and Investments
VVDN has successfully raised capital through multiple funding rounds:
- Total funding raised: $65 million
- Number of funding rounds: 3
- Most recent investor: Applied Ventures
Business Operations
VVDN Technologies specializes in the production of various electronic products:
- 5G base stations
- Wi-Fi routers
- Industrial IoT products
- Automotive electronics
- EV chargers
- AI servers
- Consumer electronics
The company's primary revenue drivers are the telecom and data centre segments.
Expansion Plans
To strengthen its global presence and overcome trade barriers, VVDN is expanding its manufacturing footprint:
- Establishing manufacturing bases in the UAE and US
- Setting up a 1,000-acre plant in Tamil Nadu for AI servers
- Developing a facility in Madhya Pradesh for industrial automation products
Currently, US exports contribute $150 million to VVDN's annual revenue.
Market Position
VVDN Technologies competes with global giants like Foxconn and Jabil in the electronics contract manufacturing space. The company's strategic expansion and focus on high-growth segments position it well in this competitive landscape.
IPO Outlook
While VVDN Technologies has set its sights on an IPO, the process has not yet been initiated. The company's decision to wait until reaching the $1 billion revenue mark demonstrates a strategic approach to entering the public market from a position of financial strength.
As VVDN Technologies continues its growth trajectory and expands its global footprint, investors and industry observers will be keenly watching its progress towards its IPO goal.
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