boAt's 1500-Crore IPO: Sailing Towards Public Waters
Imagine Marketing, the parent company of wearables brand boAt, plans to raise Rs 1,500 crore through an IPO, comprising fresh equity and an offer for sale by key stakeholders. This marks boAt's second public offering attempt, following improved profitability and strong revenue performance in recent fiscal years.
- Country:
- India
Imagine Marketing, the parent company of the popular wearables brand boAt, is moving forward with a plan to generate Rs 1,500 crore through an initial public offering (IPO), as reported in updated drafts with the Securities and Exchange Board of India (Sebi).
The IPO will include a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) totaling Rs 1,000 crore. Among those offloading shares are South Lake Investment, Aman Gupta, and Sameer Ashok Mehta, along with selling efforts from Fireside Ventures and Qualcomm Ventures LLC.
This move marks boAt's second IPO attempt, following a previous effort in January 2022. The company returned to profitability in FY25, with a net profit of Rs 60 crore, reversing a trajectory of losses from earlier fiscal years through strong market performance and strategic growth.
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