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News Topical, Digital Desk : If you are fond of fitness or music, then boAt's wearables can be a part of your everyday gadgets. Now this company is ready to make a splash in the stock market. boAt's parent company Imagine Marketing has received approval for IPO from market regulator SEBI. This is boAt's second attempt in the stock market, and this time it can be more special.
Why is boAt's IPO special?
Here are 5 important things that prompt investors to keep an eye on this IPO:- 1. Second attempt This is not boAt's first attempt in the stock market. In 2022, the company had planned to bring an IPO of Rs 2,000 crore, but it was postponed due to market volatility. Then the company raised $ 60 million from private investors. Now with SEBI's approval, boAt is ready to enter the primary market. 2. Size of IPO The valuation of the company from this IPO is expected to be around Rs 13,000 crore. This will include new shares worth Rs 900 crore and an offer-for-sale (OFS) of Rs 1,100 crore by existing investors. 3. Why are confidential documents important? boAt has chosen SEBI's confidential pre-filing route for its IPO. Many Indian companies are adopting this new option. In this route, companies get up to 18 months after SEBI approval, while in the normal route it is 12 months. 4. Where will the money from the IPO go? The company will use the money raised from new shares to repay debt, business expansion, research and development, improve product quality and general corporate needs. 5. About boAt Started in 2013 by Aman Gupta and Sameer Mehta, boAt has made a place in the market with affordable pricing, attractive design and youth-centric marketing. With headphones, smartwatches and personal grooming products, it is leading India's wearables market with a 26.7% share in the second quarter of 2024. IPO Managers - The book-running lead managers for the IPO are ICICI Securities, Goldman Sachs and Nomura.
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