Private Equity Fund Investments
Mobile phone maker Lava plans Rs.1,500-Cr IPO
Noida-headquartered mobile manufacturer Lava International is gearing up for an IPO to raise INR 1,400-1,500 crore. The issue will consist of a fresh issue of shares and an offer-for-sale by existing eligible shareholders. Lava reported INR 5,264 crore in revenue for the year ended on March 31, 2020, compared with INR 5,108 crore for the previous year. Net profit stood at INR 107 crore, compared with INR 73 crore in the previous year.
From the Venture Intelligence PE-VC Deal Database: Lava had raised USD 120 million (about INR 840 Cr) from Tsinghua Holdings and Gem India Advisors across two rounds (in 2017 and 2020).
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