Lava International Reportedly Taking The IPO Route Soon

- Advertisement -

The company, citing the government of India’s production linked incentive (PLI) scheme had decided to shift its operations from China to India

Lava International, an Indian based handset making company, is planning to raise around Rs 1,400 Crores to Rs 1,500 Crores through an initial public offering (IPO). A report published by the Economic Times states that Lava is moving towards filing Draft Red Herring Prospectus (DRHP) by June-end.

The company, as per the report, might be looking to raise funds in order to compete against Chinese brands. The IPO might both be in the form of fresh equity and offer-for-sale. The Economic Times reports that that the promoters of company would are unlikely to pare their stakes in Lava Internatonal through the IPO.

- Advertisement -

China-based Unic Memory Technology from currently holds a total of 3.3 per cent stake in the company. A Tsinghua group company, Unic, is likely to sell the stake entirel. The same group is also knowns to own chipmaker brand- Unisoc.

“The company is exploring options for undertaking an initial public offering of its equity shares… the offer may be undertaken by the company at an appropriate time in consultation with the book running lead managers (BRLMs) and other advisers appointed for the offer,” a letter from Lava to stakeholders was quoted in the report.

The company, citing the government of India’s production linked incentive (PLI) scheme had decided to shift its operations from China to India. The company in 2020 had said that it had plans to completely shift its mobile R&D, design and manufacturing operations to the country in next six months.

“We used to have a 700-members team working on design and R&D in China. Now Lava does most of that work from India. The China team was working on designs of smartphones till now. But we have already started that entirely in India now,” Sunil Raina, president and business head, Lava, had told EFY recently.

Lava International was founded by Hari Om Rai, Vishal Sehgal and Sunil Bhalla in the year 2009. Lava is currently participating in the PLI scheme for promoting manufacturing of handsets in the country. The company has plans to invest Rs 800 crore in India operations during the next five years

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Breathing Through “First-Time Silicon Success”

0
No one is born a leader, but the choices we make in life propel us to become a leader. For Chitra Hariharan, an innocent...

Buzz

Vitesco Debuts Single-Module Rotor Lock Actuator For EVs

0
Integration of park lock, rotor position sensing, and brush system into a single module for electric axles simplifies design, reduces space requirements, and lowers...

Indian Automobile Industry Value Surges 19% In FY 2023-24

0
India's vehicle production grew by 10%, with a 19% increase in value.  The UV + SUV segment saw the highest growth, with a 23% rise...

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

Important Sectors

Vitesco Debuts Single-Module Rotor Lock Actuator For EVs

0
Integration of park lock, rotor position sensing, and brush system into a single module for electric axles simplifies design, reduces space requirements, and lowers...

Goenka Green’s ElectroRide To Raise $10-15M In FY25, Expanding To 4Ws

0
Electroride has set ambitious goals for FY25 to expand its business significantly. The company targets a revenue range of USD 12-15 million in FY25...

MAHLE Launches X30 Drive System For Electric Bikes

0
The system maintains compatibility with all components, accessories, and the digital ecosystem of the existing X20 system. MAHLE SmartBike Systems has unveiled its X30 drive...

MeitY Plans Billion-Dollar Subsidy Scheme For Component Manufacturing

0
Reports indicate that the Government will offer subsidies for lands obtained to manufacture electronics components in categories where the investment-to-output ratio is not high. The...

Government Revamps PLI Scheme To Boost Telecom Manufacturing

0
The government revamps the PLI scheme for the telecom sector, boosting exports and incorporating more MSMEs, with increased allocation from Rs 1,000 crore to...

Manufacturing

Deadstock Or Forgotten Treasure?

0
In a world where technology is advancing at a breakneck speed, are the deadstock electronics components in your warehouse on the verge of becoming...

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...