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Lava says she will compete in Sub-Rs. Segment of 10,000 smartphones for doorstep service offering

Lava International, a domestic mobile device company preparing for an IPO, is preparing to increase competition in the sub-Rs 10,000 smartphone segment by focusing on new designs and complementing them with door-to-door service, according to a senior company official.

Sunil Raina, President and Chief Commercial Officer of Lava International, told PTI that the company is releasing Blaze series smartphones priced at Rs. 10,000 a piece, and its buyers will receive all the repair services at their doorstep.

“We developed the concept of an account manager for the Agni series of phones – Agni Mitra – where customers were assigned a dedicated person to deal with any issues they might encounter with their smartphones. Now we are going to extend the same concept for our future Blaze series. We plan to start it with 2,000 employees across India,” Raina said.

He said the company wants to do away with the service center concept, where a customer buys a phone from a store and then has to run and queue for service at any repair center.

“Blaze is expected to have a wider customer base due to design and price. Our bounce rate is very low compared to the industry level. Therefore, we decided to extend the service to this series. will be done at home, while in the event of a serious problem, the phone will be assembled, repaired and delivered to the customer’s home. There will be no additional service costs. We want to inform customers that we take full responsibility for the devices we sell to them ‘, Raina said.

Lava will use its internal resources for the service, and will also engage third parties to provide the service.

“The service will be available across India and we are working to establish a partnership before launching new smartphones. In Agni’s case, there was a case where our Agni Mitra traveled with a client on a train to fix a problem and fix the problem. returned after the problem was fixed. This is also without any additional maintenance costs. We want the customer to be free from all worries when they buy a device from us,” Raina said.

Lava International submitted its draft documents to the capital markets regulator Securities and Exchange Board of India (SEBI) in September 2021 to raise funds through an initial public offering (IPO).

The IPO includes a new share issue of Rs 500 crore and an offer of sale (OFS) of 4,37,27,603 shares, according to a draft red herring prospectus.

Proceeds from the issuance will be used for marketing and branding activities, financing acquisitions and other strategic initiatives, as well as investments in significant subsidiaries and to fund working capital requirements.

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