BoAt Readies Itself For Rs 2,000 Cr IPO

- Advertisement -
- Advertisement -

boAt’s parent company, Imagine Marketing could be filing the DRHP with Sebi in coming days for an inital public offering (IPO) to raise about Rs 2,000 crore

Lifestyle consumer electronics brand BoAt is the newest entry in the rapidly-growing IPO-bound Indian companies this year. As per reports, boAt’s parent company, Imagine Marketing could be filing the DRHP with Sebi in the coming days for an initial public offering (IPO) to raise about Rs 2,000 crore.

The IPO is likely to be launched around April or May of this year. The offer will include fresh issue of shares worth Rs 1,000 crore and offer for sale worth Rs 1,000 crore. Credit Suisse, Bank of America, Axis Bank and ICICI Securities will be managing the IPO.

- Advertisement -

The startup has to date raised more than $116 Million across six funding rounds with Qualcomm Ventures, Warburg Pincus, InnoVen Capital, Fireside Ventures, among others as its investors.

BoAt had raised nearly Rs 750 crore ($100 million) from the US-based Warburg Pincus early this year. As such, Warburg Pincus is likely to be one of the leading investors who will offload shares to bring its stake below 25 percent.

Recently, Dixon Technologies executed a joint venture agreement with Imagine Marketing.

Dixon and Imagine will undertake the manufacture of Blue tooth enabled audio devices. The proposed shareholding of the new JV Company will be 50:50.

BoAt has been profitable and crossed Rs 1,500 crore revenue mark in FY21. It registered a 2.2X surge in operating revenues which grew from Rs 700.44 crore in FY20 to Rs 1,511.7 crore in FY21.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Our Goal is to Offer 1000 To 1500 Varieties, With Volumes Ranging From 10000...

0
During a chat with Nitisha Dubey from EFY, Mohammed Iqbal, CEO of Technomake Electronics Pvt Ltd, talks about PCB assembly and major customer focus...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

Buzz

TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Important Sectors

Microchip Technology Expands TrustFLEX Family With CEC1736 Real-Time Platform Root Of Trust Devices

0
TrustFLEX devices along with the Trust Platform Design Suite tool will simplify the enablement of root of trust from concept to production in wide...
TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...