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

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

11 Jun 2024

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Key Takeaways

  • Financial Shift:

    • In FY 2023, boAt faced a significant financial shift, reporting a ₹129.4 crore loss, down from a ₹68.7 crore profit in FY 2022.

  • Future Plans:

    • To address this, the company plans a ₹2,000 crore IPO within 12-18 months, focusing on strategic improvements.

  • Second IPO Attempt:

    • This is boAt's second IPO attempt after canceling the first in 2022.

  • Market Leadership:

    • As a major player in the Indian wearables and audio market, the company's future depends on enhancing financial performance and successfully navigating the IPO process.

  • Financial Shift:

    • In FY 2023, boAt faced a significant financial shift, reporting a ₹129.4 crore loss, down from a ₹68.7 crore profit in FY 2022.

  • Future Plans:

    • To address this, the company plans a ₹2,000 crore IPO within 12-18 months, focusing on strategic improvements.

  • Second IPO Attempt:

    • This is boAt's second IPO attempt after canceling the first in 2022.

  • Market Leadership:

    • As a major player in the Indian wearables and audio market, the company's future depends on enhancing financial performance and successfully navigating the IPO process.

Imagine Marketing (boAt) Unlisted Shares

Imagine Marketing (boAt)

SEBI approved-0.35%

Expert Analysis

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.

Publisher:silicon india