• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, May 21, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Indian Handset Maker LAVA To Raise ₹1,500 Crore Via IPO

by Ayushi Mehta
June 5, 2021
in News
Reading Time: 2 mins read
0
Indian Handset Maker LAVA To Raise ₹1,500 Crore Via IPO
TwitterWhatsappLinkedin

You might also like

CloudSEK Raises $19M to Advance Predictive Cybersecurity and Expand Globally

Curefoods Acquires Krispy Kreme India: A Strategic Leap into Retail and Cloud Kitchens

Elton John Slams Big Tech’s Free AI Training on Artists’ Work

Lava International, which is an Indian handset making company is reportedly planning to raise around ₹1,400 Crores to ₹1,500 Crores through an initial public offering (IPO). The company wants to go public to build uo its balance sheets so that it can be strong enough that it can take on bigger rival companies from China. The company also plans to file a Draft Red Herring Prospectus (DRHP) for the public offering by the end of this month, said a person familiar to the matter to The Economic Times, a news agency in India.

“The company is moving towards filing DRHP by June-end. The work is on,” one of the sources from the company told the agency and asked to stay anonymous.

Speculations are that the IPO is going to be both- fresh equity and offer-for-sale.

In a report made by the Economic times, the promoters of the money would not get affected by this as they are unlikely to pare their stakes in the company through the IPO. Unic Memory Technology from China, which is a Tsinghua group company, holds a total of 3.3% share in the company. Tshinghua is likely to sell its part of these stakes along with a few employees. The group company also owns a chipmaker brand- Unisoc.

However, another source from the company said otherwise. It said that although the promoters are unlikely to sell their stakes but the internal discussions for it are currently in process.

The Indian handset maker had also sent in letters to the shareholders to seek their approvals for this primary issue.

This letter which was sent out by the company said- “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.”

The company Lava International is a truly Indian brand which was founded in the year 2009 by Hari Om Rai, Vishal Sehgal and Sunil Bhalla.

Hari Om rai is currently the Chairman and the Managing Director of the company while the rest two co-founders are directors in the company.

The company is among the few ones that got the approval under the government’s Production-Linked Incentive Scheme (PLI), to avail the incentives by uplifting the local manufacturing and exports.

The ET report quoted Tarun Pathak, research director of mobile devices and ecosystems at Counterpoint Research, who said- “Their (Lava’s) strength lies in understanding the supply chain, design, and manufacturing.”

Tags: acquisitionandroidArtificial IntelligenceBusinesse-commerceecommerceentrepreneursentrepreneurshipfinancefundingIndiaInvestmentinvestmentsMarketingtechtechnology
Tweet54SendShare15
Previous Post

HDFC Bank Takes Back The Letter That Was Circulated Regarding the Crypto Transactions

Next Post

Zerodha Founder Nithin Kamath On Being Rejected To Be Granted Verified Mark On Twitter

Ayushi Mehta

Hey! My name is Ayushi Mehta, I'm 19 years old. I am a big time literature and tech enthusiast. A cub Journalist. Thank you for checking out my articles! To connect, email me at- [email protected]

Recommended For You

CloudSEK Raises $19M to Advance Predictive Cybersecurity and Expand Globally

by Ishaan Negi
May 21, 2025
0
CloudSEK Raises $19M to Advance Predictive Cybersecurity and Expand Globally

In a world where cyber threats evolve faster than traditional security systems can respond, one company is flipping the script. Bengaluru-based CloudSEK, a leader in AI-powered cyber threat...

Read more

Curefoods Acquires Krispy Kreme India: A Strategic Leap into Retail and Cloud Kitchens

by Ishaan Negi
May 21, 2025
0
Curefoods Acquires Krispy Kreme India: A Strategic Leap into Retail and Cloud Kitchens

Curefoods, a cloud kitchen company located in Bengaluru, has taken the exclusive rights to franchise Krispy Kreme throughout India in a daring move that highlights the expanding convergence...

Read more

Elton John Slams Big Tech’s Free AI Training on Artists’ Work

by Sneha Singh
May 20, 2025
0
Elton John Slams Big Tech's Free AI Training on Artists' Work

Music superstar Sir Elton John has launched a fierce attack on the UK government's proposed Data Use and Access Bill, calling it "theft on a grand scale." The...

Read more
Next Post
Nithin Kamath

Zerodha Founder Nithin Kamath On Being Rejected To Be Granted Verified Mark On Twitter

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?