Boat IPO: The Parent Company Is Set To Go For IPO In 2022

Imagine Marketing, which owns the BoAt brand of earphones and smartwatches, one of India's top direct-to-consumer audio-focused electronics businesses, filed for an initial public offering (IPO) of up to 2,000 crores with market regulator Securities and Exchange Board of India (SEBI) last month, according to its draught prospectus. In its IPO this year, Boat is projected to seek a valuation of $1.5-2 billion.

Fireside Ventures, Qualcomm Ventures LLC, and South Lake Investment Ltd, an affiliate of the Warburg Pincus Group, are among the investors in the firm, which was created in 2014. Despite the presence of prominent investors, the company's founders, Sameer Mehta and Aman Gupta, collectively own over 50% of the company's shares, with each holding a 28.26% interest.

There will be a fresh issuance of Rs 900 crore and an offer for sale (OFS) of Rs 1,100 crore in the IPO, which will be led by the company's current promoters and shareholders. Each founder will offer a share sale for up to Rs 150 crore. According to the Documents, South Lake Investment is attempting to sell shares worth Rs 800 crore.

IPO Details such as Bidding dates, Minimum Investment, Lot Size, Price Range, are yet to come. Only the isse size, which Rs 2000 Cr has been revealed.

The company made Rs 1,547.8 crore in sales between April and September of last year, with total revenue of Rs 1,553.1 crore. It reported Rs 1,313.7 crore in profits from operations in FY21, up from Rs 609 crore the previous year.

Parent Company - Imagine Marketing

Boat's parent company, Imagine Marketing, is a digital-first consumer products firm that will be one of the leading digital-first brands in India in terms of income from operations in the fiscal year 2022. It was created in 2013, and its flagship brand "boAt" was introduced in 2014. It has a wide range of items. The flagship brand "Boat" has gained market leadership in India in both volume and value across a number of high-growth consumer categories, including audio and wearables. The D2C brand, which is located in Mumbai, is primarily reliant on online marketplaces, which the firm has identified as a risk concern.