boAt plans to raise funds & earmarks IPO in next 12-18 months

boAt Eyes Fundraising, Targets IPO in 12-18 Months.

Expert Analysis:

• Financial Performance: Imagine Marketing (boAt) reported its first financial loss in FY 2023, amounting to ₹129.4 crore, in contrast to a profit of ₹68.7 crore in FY 2022.

• Funding Strategy: CEO Sameer Mehta announced plans to raise ₹2,000 crore through an IPO within 12-18 months and is in discussions with three significant investors for fundraising.

• IPO Timeline: The IPO timeline is contingent on improving financial ratios such as return on capital employed and net profit But expected within 12-18 months.

• Previous IPO Attempt: boAt's previous IPO attempt in 2022, approved by SEBI, was later cancelled. Co-founder Aman Gupta stated the company wasn't rushing into another IPO for the next few years.

• Market Position: Established in 2016, boAt is a key player in India's wearables and audio market, offering a wide range of products.