The draught red herring prospectus for Lava International's planned initial public offering (IPO) was filed with Sebi.

The firm intends to raise Rs 500 crore in the primary market. In addition, during the IPO, its shareholders will sell a total of 43,727,603 shares. The company also stated that it may hold a private placement round to raise Rs 100 crore prior to the IPO.

Its promoters, Hong Kong-based Unic Memory Technology and Tupperware Kitchenware are among the selling shareholders. According to the draught papers, the average cost of acquisition for the selling shareholders is Rs 110.67 for Unic Memory and Rs 1.37 for Tupperware Kitchenware.

Earlier this month, the company announced a share split. The company reduced the face value of its equity shares from Rs 10 to Rs 5 per share in accordance with a shareholders' resolution dated September 10, 2021. Among the merchant bankers to the issue are Axis Capital, BOB Capital, DAM Capital, and SBI Capital Markets.