Lava Mobiles is planning to raise funds worth Rs 1 billion by end-June 2015. The company has appointed EY as its consultant to help raise funds from external investors through equity placements.
Lava has been evaluating various proposals to decide on the amount of equity it will dilute in exchange for the investment. In this regard, it has been engaged in discussions with investors from India and overseas.
The Noida-based handset manufacturer has a share of around 8 per cent in India’s smartphone market. It had reported revenues worth Rs 42.32 billion in April-November 2014, out of which 61 per cent came from the sale of smartphones.
Meanwhile, Lava is planning to start assembling its devices in India by March 2015.
