Imagine Marketing (boAt) Unlisted Shares
boAt secures board approval for 2,000 Crore IPO, plans FY26 listing
Radio And Music
2 min read
BoAt Gets Board Nod for ₹2,000 Crore IPO, Eyes FY26 Listing.
Expert Analysis:
IPO Approval: boAt secures board approval and amends its Articles of Association (AoA) to proceed with its IPO.
IPO Structure: boAt plans a ₹2,000 crore IPO in FY26, including a ₹500 crore fresh issue and an OFS, with a possible confidential DRHP filing.
Lead Bankers & Valuation: ICICI Securities, Goldman Sachs, and Nomura are lead bankers, with boAt targeting a valuation of over $1.5 billion.
Second IPO Attempt: After shelving its 2022 IPO plans due to market conditions, boAt secured ₹500 crore from Warburg Pincus and Malabar Investments.
IPO Utilization: boAt plans to use IPO proceeds to expand its offline presence, focusing on smaller cities.
Financial Performance: Revenue declined 7% to ₹3,117.7 crore in FY24, wearables fell 40% to ₹550.3 crore, but losses narrowed 38% to ₹79.7 crore.
boAt plans a ₹2,000 crore IPO, balancing offline expansion with financial recovery and addressing past IPO withdrawal concerns.
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