boAt IPO, owned by Imagine Marketing filed DRHP (Draft Red Herring Prospectus) for an initial public offering with market regulators SEBI. The household brand for headsets and earphones has filed for a Rs 2,000 crore IPO. The consumer electrical manufacturers company which owns the brand boAt lifestyles aims to launch its IPO by April-May 2022.
The initial public offering will raise around ₹2000 crores which comprises of fresh equity shares up to ₹900 crores and an Offer for sale (OFS) aggregating up to ₹1100 crores.
Owned by Imagine Marketing Pvt Ltd, boAt is the fifth-largest wearables brand globally. Generating over Rs 750 crores last year, boAt competes with brands such as OnePlus, Samsung, Realme, JBL, Bose, and Ptron in India.
US-based private equity fund Warburg Pincus is the largest investor in boAt holding close to a 30% stake with investors including Qualcomm Ventures and Fireside Ventures together holding less than 5% stake. boAt, operated by Imagine Marketing Pvt Ltd, had raised nearly Rs 750 crore from Warburg Pincus last year. Qualcomm Ventures invested Rs 50 crore in April 2021 at a valuation of Rs 2,200 crore.
Founded by Aman Gupta and Sameer Mehta with an aim to provide affordable, durable, and ultra-fashionable audio products to groove to, the duo kick-started their journey in 2016. Gradually it started ruling the Indian markets and was the number 1 brand for truly wireless, and earwear in India in 2020.
boAt Dominates India’s TWS Market For The Third Consecutive Quarter while the market saw a 156% YoY growth in Q1 2021, the growth skyrocketed with a massive 576% YoY growth. In April 2021, Qualcomm Ventures invest in boAt to power Make in India or Atmanirbhar Bharat.
The wearables company, boAt had partnered with 6 IPL (Indian Premier League) teams as their official audio partner with Indian players KL Rahul, Rishabh Pant, Hardik Pandya, Shikhar Dhawan, Prithvi Shaw, and Mayank Agarwal as its Brand Ambassadors.
boAt Lifestyles has a large group as its trusted partners that include Myntra, Nykaa, Tata Cliq, Paytm, Amazon, Croma, Flipkart, Snapdeal, Reliance Digital, Udaan, Lotus, and many more.
boAt IPO Promoters
- Aman Gupta.
- Sameer Mehta.
- South Lake Investment Limited.
boAt IPO Objectives
- Pay/repay debt from the funds raised.
- General Corporate purposes.
boAt IPO Details
|Issue Period||Opening Date: xx-xx-2022
Closing Date: xx-xx-2022
|Price Band||₹ – ₹ per equity share|
|Issue Size||₹2000 Cr|
|Face Value||₹ per equity share|
|Issue Type||Book Built Issue|
|Fresh Issue||[.] Eq Shares of ₹ face value
(aggregating up to ₹900 Cr)
|Offer for sale||[.] Eq Shares of ₹ face value
(aggregating up to ₹1100 Cr)
|Listing||NSE and BSE|
|Registrar||Link Intime India Private Limited|
boAt IPO Timeline
BoAt IPO issue date, issue price, allotment date, and the listing date, and all the details will be announced soon.
|IPO Opens||To be announced|
|IPO Ends||To be announced|
|Allotment Begins||To be announced|
|Refund Initiation||To be announced|
|Allotment Date||To be announced|
|Listing Date||To be announced|
boAt IPO Lot Size (Retail Individual Investors)
boAt IPO Investor Category
BoAt IPO has 10% of the net offer under the Retail Category.
|QIB (Qualified Institutional Buyers)||75% of net offer|
|NII (Non-Institutional Investors)||15% of net offer|
|RII (Retail Individual Investors)||10% of net offer|
boAt IPO GMP
boAt IPO has started trading in the grey market and the GMP is ₹121. The grey market premium will be updated regularly.
boAt IPO Review
The reviews for boAt IPO are not yet out. A detailed review will be updated once the price band and valuations are out for the issue.
boAt IPO Book Running Lead Manager(s)
- Axis Capital.
- BofA Securities.
- Credit Suisse.
- ICICI Securities.
boAt IPO Registrar
Link Intime India Private Limited
C 101, 247 Park, L.B.S. Marg, Vikhroli (West),
Mumbai 400 083, Maharashtra, India
Tel no: +91 22 4918 6200
Company Contact Details
Imagine Marketing Limited
Block Number 19,
Huaz Khas Village,
Ground, 1st , 2nd & 3rd Floor,
South Delhi – 110016