Homegrown smartphone major Lava is looking to raise up to Rs 300 crore by selling 20% stake to private equity firms. The firm, which is the fourth-largest smartphone vendor, is now looking to expand its presence to emerging markets and meet the rising working capital requirements, fuelled by the smartphone explosion in the country.According to a source in the knowhow, the company has been valued at almost half a billion dollar and is currently in the process of shortlisting potential investors.

Source - http://www.diligentia.net.in