BoAt IPO: Consumer electronics brand files papers for IPO, check offer details

BoAt’s Imagine Marketing has filed a preliminary prospectus with SEBI to raise Rs 2,000 crore.

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New Delhi: BoAt’s parent company Imagine Marketing has filed a preliminary prospectus with SEBI to raise Rs 2,000 crore through an initial public offering (IPO). BoAt IPO consists of a fresh issue of equity shares, equalling up to Rs 900 crore and an offer for sale aggregating up to Rs 1,100 crore, according to the draft red herring prospectus (DRHP) filed with the market regulator.  

The consumer electronics brand will utilise proceeds from the fresh issue towards re-payment of debt, helping the firm in maintaining a favourable debt to equity ratio and enabling the utilisation of its internal accruals for further investment in business growth and expansion.

Imagine Marketing was founded in 2013 while its flagship brand BoAt was introduced in 2014. Since its launch, BoAt has established leading market positions in volume and value terms in India across multiple, high-growth consumer categories such as audio and smartwatches as of September 30, 2021, according to a PTI report. 

Moreover, Imagine Marketing has also demonstrated an impressive track record of rapid and sustainable growth. The company’s operating revenue grew at a CAGR of 141 per cent from FY19 to FY21, while it maintained profitability. Also Read: Union Budget 2022: Expectations for the automobile and rental car segments

Axis Capital Limited, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited and ICICI Securities are the book running lead managers of BoAt IPO. Also Read: Now, order Aadhaar PVC cards online for the whole family using a single mobile number