Lava Worldwide information draft papers for its IPO

NEW DELHI: Homegrown electronics firm Lava Worldwide filed the draft crimson herring prospectus for its deliberate preliminary public supply (IPO) with Sebi.

The corporate plans to boost Rs 500 crore from the first market. Together with that, its shareholders may also promote a complete of 43,727,603 shares in the course of the IPO. The corporate stated it may also maintain a personal placement spherical to boost Rs 100 crore forward of the IPO.

Among the many promoting shareholders are its promoters, Hong Kong-based Unic Reminiscence Expertise and Tapperware Kitchenware. Common price of acquisition for the promoting shareholders stands at Rs 110.67 for Unic Reminiscence and Rs 1.37 for Tapperware Kitchenware, in line with the draft papers.

“Demand for the shares has elevated within the unlisted market, the place the inventory traded round Rs 175-215 on Tuesday,” stated Dinesh Gupta of UnlistedZone, a dealer who facilitates such trades.

The corporate went for a share cut up earlier in September. On the idea of a shareholders’ decision dated September 10, 2021, the corporate sub-divided the face worth of its fairness shares from Rs 10 every to Rs 5 every.

Axis Capital, BOB Capital, DAM Capital and SBI Capital Markets are among the many service provider bankers to situation.