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  3. Lava inducts new directors as co-founder Rai moves out; looks at PE rai…

Lava inducts new directors as co-founder Rai moves out; looks at PE raise of Rs 600 cr

23 May 2024

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Key Takeaways

  • Market Expansion Strategy:

    • Lava International is intensifying efforts through board restructuring and a targeted fund raise of Rs 600 crore for new 5G smartphones.

  • Government Support and Sales Growth:

    • Leveraging the government's PLI scheme, Lava has witnessed a remarkable 250% surge in sales of 5G devices, positioning itself to take on prominent Chinese brands.

  • Focus on Innovation and Global Presence:

    • With emphasis on innovative services and international expansion, Lava aims to fortify its market standing, underpinned by a robust governance framework to attract investors.

  • Market Expansion Strategy:

    • Lava International is intensifying efforts through board restructuring and a targeted fund raise of Rs 600 crore for new 5G smartphones.

  • Government Support and Sales Growth:

    • Leveraging the government's PLI scheme, Lava has witnessed a remarkable 250% surge in sales of 5G devices, positioning itself to take on prominent Chinese brands.

  • Focus on Innovation and Global Presence:

    • With emphasis on innovative services and international expansion, Lava aims to fortify its market standing, underpinned by a robust governance framework to attract investors.

lava

Lava International

-0.97%

Expert Analysis

Lava Adds New Directors as Co-Founder Rai Leaves; Plans to Raise Rs 600 Crore from Private Equity.

Expert Analysis:

  • Board Revamp:

    • Appointed Anupam Srivastava, former BSNL chairman.

    • Appointed Lt. Gen. Ajay Kumar Singh (Retd.), former Lt. Gov of Andaman & Nicobar Islands.

    • Moved out co-founder Hari Om Rai.

  • Fundraising Goals: Aims to raise Rs 600 crore through private equity for launching new 5G smartphones.

  • Sales and Growth: Achieved 250% growth in 5G device sales last fiscal year with 1.5 million units sold.

  • Manufacturing Capacity and Government Support: Lava benefits from the government's PLI scheme and has a manufacturing capacity of 42 million units, aiding in business expansion and new device launches.

  • Funding Requirement for Competitive Edge: The company aims to raise Rs 600 crore, crucial for competing against Chinese brands like Vivo, Oppo, Xiaomi, and RealMe.

  • Pursuit of Private Equity Investment: Despite facing tough competition, Lava is exploring all funding options and is optimistic about securing private equity investment soon.

Publisher:Times Of India