<article>Smartphone maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=lava" target="_blank">Lava International</a>, that has manufacturing facilities in India and China, is planning to raise $100 million for a stake in the company.</article>

Smartphone maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=lava" target="_blank">Lava International</a>, that has manufacturing facilities in India and China, is planning to raise $100 million for a stake in the company.
The company would go for a second round of share sale within a year of this planned fund raise, the Economic Times reported. Lava might divest between 10-15 per cent of equity in the first tranche.
The Noida-based company is the fifth largest seller of smartphones, with a 7 per cent share according to a study by IDC in December. It plans to invest Rs 2,800 crore ($408 million) in next two years. Most of that will go into ramping up manufacturing facilities.
It currently makes around 40 million mobile phones in a year, out of which 28 million are made in its China factories. Lava&#8217;s phones are mostly priced in the Rs 5,000 &#8211; 10,000 range, making them more affordable than high-end phones made by Apple or Samsung. Phones in that price range are the most popular in India.
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Lava International will go for a second round of share sale within a year of this planned fund raise.

India: Affordable smartphone maker Lava to raise $100m this year

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India: Affordable smartphone maker Lava to raise $100m this year

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