IPO-bound home cellular gadgets agency Lava International is gearing up to intensify competitors in sub-Rs 10,000 smartphone section with concentrate on new designs and praise them with service at doorsteps, a senior firm official stated.
Lava International president and enterprise head Sunil Raina advised PTI that the corporate is arising with Blaze sequence smartphones which will likely be priced Rs. 10,000 apiece and its consumers will get all of the restore service on their doorsteps.
“We came up with the concept of customer relationship manager for Agni series phones — Agni Mitra — where customers were allotted a dedicated person to handle any issue that they may face in their smartphones. We are now going to extend the same concept for our upcoming Blaze series. We are planning to start it with 2,000 personnel across India,” Raina stated.
He stated that the corporate desires to dispose of the idea of a service centre, the place a buyer buys a cellphone from a store after which has to run and queue up for service at any restore centre.
“Blaze is expected to have a wider customer base because of design and price. Our fault rates are very low compared to industry level. Therefore, we have decided to extend the service to this series. In case of software and minor hardware issues, it will be done at home while in case of major issue the phone will be collected, repaired and delivered to the customer at home. There will be no extra cost for the service. We want to tell customers that we take full responsibility for the devices that we sell to them,” Raina stated.
Lava will deploy its in-house assets for the service in addition to companion third events for offering the service.
“The service will be available across India and we are working on to implement partnership before launching the new smartphones. In the case of Agni, there has been an instance where our Agni Mitra has travelled with a customer on a train to fix a problem and returned after the issue was fixed. That too without any extra cost for the service. We want the customer to be free of all worries when he buys a device from us,” Raina stated.
Lava International has filed its draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) in September 2021 to elevate funds by way of Initial Public Offering (IPO).
The IPO includes contemporary issuance of fairness shares price Rs 500 crore and an Offer For Sale (OFS) of 4,37,27,603 fairness shares, in accordance to the draft pink herring prospectus.
Proceeds from the problem will likely be used for advertising and marketing and model constructing actions, funding acquisition and different strategic initiatives and funding in materials subsidiaries and for funding its working capital necessities.