Here is the Lollipop 5.1 Rom for all Android one Devices. It is not CM12
Rom but is the official stock rom of indonesia android one devices but
works on indian android one devices too
Note : Do not wait for lollipop ota update .
It is the backup of stock rom so you need to flash it through followings steps :-
How to install Lollipop Rom in Android One manually?
1. Use PhilZ Recovery.
3.Using advanced restore, restore only /system and /boot.
4.Now reboot and you got that lollipop
Works on all android one devices (Spice Dream UNO, Karbonn Sparkle V, Micromax Canvas A1)