Lava Iris Alfa, which was released back in January 2015 with Android 4.4 KitKat on board, is now receiving Android 5.0 Lollipop update. The 270.05 MB update has been released in the form of OTA, so you can download it directly to the device, and install it.
Users can also download the update file from Lava's official website to their PC/laptop and install it manually (see the source link). Alternatively, owners of the device can also visit the nearest service centre and get its software updated to Android 5.0 Lollipop. Once the Lollipop update is installed on the Lava Iris Alfa, its software version will be bumped up to LAVA_iris alfa_S111L_20150612.
Android 5.0 Lollipop update brings colourful Material UI design, redesigned quick setting toggles, improved performance, enhanced security, battery saver mode, Tap & Go data transfer tool, and a lot of other nifty features.