{"id":83930,"date":"2023-01-17T13:59:00","date_gmt":"2023-01-17T08:29:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=83930"},"modified":"2023-01-17T13:54:18","modified_gmt":"2023-01-17T08:24:18","slug":"biz-sebi-lava","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-sebi-lava\/","title":{"rendered":"Sebi returns Lava International&#8217;s draft IPO papers; asks to refile with updates"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4008437461\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1423539578\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The move might delay the company&#8217;s initial public offering (IPO).<\/p><p>Lava International had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial share-sale.<\/p><p>The proposed IPO comprises fresh issuance of equity shares worth up to Rs 500 crore and an offer for sale (OFS) component of 4,37,27,603 equity shares.<\/p><div class=\"trade-content_5\" id=\"trade-2264890129\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware.<\/p><p>The company proposes to utilise the proceeds from the fresh issue for marketing and brand building activities, funding acquisition and other strategic initiatives and investment in material subsidiaries, and for funding its working capital requirements.<\/p><p>According to an update with Sebi&#8217;s website on Tuesday, the market regulator returned the company&#8217;s DRHP on January 13, 2023 with an advise to refile it&nbsp;post applicable updates\/ revisions.<\/p><p>However, the regulator has not elaborated on the updates or revisions required in the draft documents.<\/p><p>Lava International is a leading end-to-end focused mobile handset and mobile handset solutions company based in India, with operations in a number of countries.<\/p><p>The company designs, manufactures, markets, distributes and services mobile handsets, tablets and other electronics accessories under its own &#8216;LAVA&#8217; and &#8216;XOLO&#8217; brands, and provides value added software services.<\/p><div class=\"trade-content-10\" id=\"trade-1449443112\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>It has presence in many emerging markets, such as Thailand, Sri Lanka, the Middle East, Bangladesh, Mexico, Indonesia and Nepal. PTI SP ANU ANU<\/p><div class=\"trade-after-content\" id=\"trade-3290685507\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates. The move might delay the company&#8217;s initial public offering (IPO). Lava International had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-83930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sebi returns Lava International&#039;s draft IPO papers; asks to refile with updates - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-sebi-lava\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sebi returns Lava International&#039;s draft IPO papers; 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