# VVDN Technologies readies for  ₹4,000-5,000 crore IPO — retained record

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source: [news](https://highsignal.app/data/news) (news:india-mint-markets)  published 2026-09-18 00:30 ingested 2026-09-18 02:56

[original source ↗](https://www.livemint.com/market/ipo/vvdn-technologies-readies-for-4-000-5-000-crore-ipo-amid-strong-growth-11789623221393.html)

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VVDN Technologies is weighing a ₹4,000-5,000 crore fundraise through an initial public offering (IPO), with the electronics manufacturing services company expected to begin formal pitches to investment banks over the next quarter, according to four people aware of the development.
The proposed IPO is likely to comprise a mix of fresh capital and an offer for sale (OFS), the people said on the condition of anonymity. “The company has already held informal discussions with some investment banks, with formal pitches expected over the coming quarter, following which it will appoint bankers,” one of the sources quoted above said.
“The company is currently focused on meeting internal revenue and profitability milestones, and details around the company’s valuation and the eventual IPO structure are yet to be finalized,” a second person quoted above added. Valuation discovery is still underway as the company firms up its growth plans, the person said.
The potential listing comes as India’s public-market fundraising window has opened up, with IPOs, qualified institutional placements and block deals picking up simultaneously.
Several new-age companies, including Symbiotec Pharmalab, Milky Mist, Shiprocket, Gaja Capital and Purple Style Labs, have listed in the past two months, while companies such as Billionbrains Garage Ventures, Physicswallah, Rubicon Research, Welspun Corp. and Viyash Scientific have tapped public markets through secondary transactions.
VVDN Technologies declined to comment.
VVDN has raised over $129 million in multiple private funding rounds since its inception in 2007, according to data firm Tracxn. As of June 2024, the company was valued at $274 million, according to Tracxn.
The company has two major investors, Motilal Oswal Private Equity and LV Holdings Private Family Trust, holding about 36% of the firm, Tracxn data showed.
Founded by Bhupender Saharan, Puneet Agarwal, and Vivek Bansal, VVDN offers product engineering and manufacturing electronic solutions for customers including end-to-end design, development, and manufacturing. The company works with customers in areas like 5G, datacenter, wireless, artificial intelligence and machine learning on vision-based solutions, IoT (Internet of Things), automotive, cloud and applications.
Within telecom manufacturing, it competes with HFCL Ltd and Dixon Technologies, while its rivals in electronics contract manufacturing include Foxconn and Jabil.
According to the latest available figures with Tracxn, VVDN’s revenue almost doubled to ₹3,864.6 crore in FY25 from ₹2,172.3 crore in FY24, while net profit remained largely flat at ₹38.6 crore versus ₹38.3 crore a year earlier.
In October last year, The Economic Times reported that Gurugram-based VVDN planned to pursue an IPO after its annualized revenue crossed $1 billion ( ₹9,587 crore), with the company also setting up manufacturing bases in the US and the UAE. The $1 billion figure is based on 2025 numbers, according to the report.
In July, Mint reported that VVDN was among more than 14 companies that had committed a total investment of ₹3,500 crore for India’s first telecom manufacturing zone in Gwalior, Madhya Pradesh.
VVDN has set up research and development (R&D) centers, testing lab infrastructure, and manufacturing facilities in India. With its India headquarters in Gurugram and an American headquarters located in California, it works with global customers across regions including US, Canada, Europe, India, Vietnam, Korea, and Japan.
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