Domestic mobile maker company Lava International is going to bring its IPO. The company has filed a draft paper for this in SEBI. New shares worth Rs 500 crore will be issued through IPO while 43,727,603 equity shares will be sold through Offer for Sale (OFS). According to DRHP, Hari Om Rai will sell 1.25 crore equity shares. Shailendra Nath Rai will sell 31.35 lakh equity shares. Sunil Bhalla will sell 78.38 lakh equity shares. Vishal Bhalla will also sell 78.38 lakh equity shares. Unic Memory Technology will sell 1.13 crore equity shares. On the other hand, Tupperware Kitchenware will sell 9.75 lakh equity shares.
The capital will be used for marketing and brand building
The company will use the capital raised from the IPO for marketing and brand building activities. Apart from this, this fund will also be used for acquisition and other strategic steps. The requirements of material subsidiary and working capital will also be met from this.
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What does the company do?
Lava International is India’s leading end-to-end mobile handset and mobile handset solutions company. Its operations run in many countries. The company also sells mobile handsets, tablets and other electronics accessories. The company sells its products under the brand names ‘LAVA’ and ‘XOLO’. It also provides value added software. Apart from India, the company has presence in Thailand, Sri Lanka, Middle East, Bangladesh, Mexico, Indonesia and Nepal. Axis Capital, BOB Capital, DAM Capital and SBI Capital Markets will be the merchant bankers to the issue.
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