Silver Consumer Electricals (SCEL), a Rajkot-headquartered manufacturer of electrical consumer durables and agricultural equipment, has filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI) for its ₹1,400 crore initial public offering (IPO).
The offer comprises Fresh Issue aggregating up to ₹1,000 crore and Offer for Sale (OFS) aggregating up to ₹400 crore.
Of the fresh issuance amount, the company will use ₹865 crore to repay or prepay its borrowings and ₹35 crore to clear the borrowings of its subsidiary, BAPL, and the rest for general corporate purposes.
SCEL is a large-scale manufacturer of electrical consumer durables, including pumps and motors, solar pumps and controllers, fans, lighting, other consumer electrical products and agricultural equipment.
SCEL has established a single-location and vertically integrated electrical consumer durables and agricultural equipment plant in Rajkot, Gujarat, spread over 138,821 square meters. As of March 31, 2025, the company has installed capacities of 2,400,000 units for pumps and motors, and 7,200,000 units for fans, 21,900,000 units for lighting products and 72,000 units for agricultural equipment.
SCEL operates a dual business model, i.e., (i) owns branded sales under “Silver” and “Bediya” brands; and (ii) designing, manufacturing and supplying products to renowned original equipment manufacturers (“OEMs”) in India.
Motilal Oswal Investment Advisors, ICICI Securities, JM Financial Limited and Choice Capital Advisors are the Book Running Lead Managers (BRLMs), and Trilegal is the Legal Counsel.
