Lava International Unlisted Shares
Lava inducts new directors as co-founder Rai moves out; looks at PE raise of Rs 600 cr
Times Of India
2 min read
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.
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.
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