"Frankly I've been delaying it for the last couple of years because I wanted to know my valuation...and now my valuation has gone much higher in the last few years," Chairman Sudhir Hasija said.
Karbonn Mobiles, which started in 2009, expects revenue to rise four-fold in two years from 45 billion Indian rupees ($743 million) for the year ended March 2014 as it expands into Europe and Africa, driven by sales of "Android One" phones.
Google said in June it was working with three Indian manufacturers to develop a sub-$100 smartphone for the Indian market this fall, getting Android software into one of the fastest-growing major mobile markets.