Boat Gets Regulatory Nod for Rs 1500 Crore IPO
Imagine Marketing, the parent company of consumer electronics brand Boat, has received regulatory approval from SEBI for its Rs 1500 crore initial public offering (IPO).
Key IPO Details
- Total IPO Size: Rs 1500 crore
- Fresh Issue: Up to Rs 500 crore
- Offer for Sale (OFS): Rs 1000 crore
Offer for Sale Breakdown
The OFS component includes significant share sales by key stakeholders:
- Aman Gupta: Shares worth Rs 225 crore
- Sameer Ashok Mehta: Shares worth Rs 75 crore
- South Lake Investment Limited: Shares worth Rs 500 crore
Fund Utilization and Timeline
According to regulatory filings, the company plans to use the raised funds for:
- Working capital requirements: Rs 225 crore
- Branding and marketing: Rs 150 crore
The company filed confidential draft papers in April 2024 and secured SEBI’s approval in late August. This marks Boat’s second attempt at going public after an earlier Rs 2000 crore IPO plan in 2022.
Financial Performance Turnaround
Boat achieved a significant financial turnaround in FY25, posting a net profit of Rs 60 crore. This comes after consecutive losses of Rs 79.7 crore in FY24 and Rs 129.5 crore in FY23. The company reported consolidated revenue of Rs 3097.8 crore.
Company Background and Market Position
Founded in 2013 by Aman Gupta and Sameer Mehta, Boat has become a major player in India’s consumer electronics market, specializing in speakers, headphones, earphones, and smart watches. The company faces intense competition from domestic brands like Noise and Fire-Boltt, as well as global giants Xiaomi and OnePlus in India’s rapidly growing wearable market.
