Lava MD and CFO resign, co-founder returns as MD

Business Oct 23, 2026

Big shake-up at Lava: Managing Director Sunil Raina and CFO Rajesh Sethi have resigned, but they will stay on until December 2026 to help with the transition.

Co-founder Hari Om Rai is returning as managing director after a break, and this follows the recent exit of its chief manufacturing officer.

Lava is switching things up as it looks to raise new funds and stay strong in India's budget smartphone race.

Lava targets under ₹20,000 smartphones

Lava is aiming to grab a bigger chunk of the under ₹20,000 smartphone market, right when Chinese brands are focusing more on pricier models due to rising costs.

Plus, the Indian government wants to boost local smartphone makers, which could give Lava and other homegrown brands an extra edge going forward.