[Q] Root for Lava Xolo A700

I've been searching the whole internet for support of this device. It runs on android 4.0.4 and the stock rom is almost not modified the company. Currently, it would be great if someone posted a way to root this device. And later on make custom roms and all. Here's a quick spec of this phone:

• 1GHz dual core processor, 512MB Ram - MT6577 chipset

• 4.5 inch IPS Capactive touch Display - 960 x 540 pixels 16M

• 5MP Camera

• 4GB inbuilt storage

• 3G / Wi-Fi

• GPS

So please, anyone out there. It would be more than appreciated if you help us folks with this device and root it. Thank you so much.