Lava Mobile IPO.
Lava International, a provider of mobile handset solutions, has filed IPO papers with the Securities and Exchange Board of India (Sebi).
Lava International, a local mobile phone manufacturer, has filed draft documents with the capital markets regulator Sebi to acquire cash through an initial public offering (IPO) (IPO).
According to the draft red herring prospectus, the IPO will include a fresh issuance of equity shares worth Rs 500 crore and an offer for sale (OFS) component of 4,37,27,603 equity shares (DRHP).
Hari Om Rai sold 1.25 crore equity shares, Shailendra Nath Rai sold up to 31.35 lakh shares, Sunil Bhalla and Vishal Sehgal each sold up to 78.38 lakh shares, Unic Memory Technology sold up to 1.13 crore shares, and Tupperware Kitchenware sold up to 9.75 lakh shares in the OFS.
The proceeds from the offering will be used to fund marketing and brand-building efforts, acquisitions, and other strategic initiatives, as well as investments in material subsidiaries and working capital.
Lava International, established in India, is a prominent end-to-end mobile phone and mobile handset solutions firm with operations in several countries. Under its own 'LAVA' and 'XOLO' trademarks, the firm designs, manufactures, markets, distributes, and services mobile handsets, tablets, and other electronics accessories, as well as providing value added software services.
Thailand, Sri Lanka, the Middle East, Bangladesh, Mexico, Indonesia, and Nepal are just a few of the rising markets where it operates.
Merchant bankers Axis Capital, BOB Capital, DAM Capital, and SBI Capital Markets are among those who have issued.
