The company is also gearing up to enter the wearables market next month with India-made smartwatches under the sub-brand ProWatch.
Lava International president Sunil Raina told Mint that the company was exploring all options to raise funds, including private equity investment, a public listing, or a combination of both with an investor coming in before the initial public offering (IPO).
“For the next two to three years we will need about ₹500 crore, some of it will come from our accruals but a large part of it will have to come from outside. We are exploring both options simultaneously, either an investor comes in or we go public or both,” he said.
Raina recalled Lava’s previous plans to secure funding, which did not take off due to volatile market conditions. In September 2021,…
