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News Topical, Digital Desk : New IPO: Imagine Marketing, the parent company of Indian wearable brand boAt, has received approval from the Securities and Exchange Board of India (SEBI) for a ₹1,500 crore initial public offering (IPO). The company announced this in its updated prospectus on October 29.
Offer for sale of Rs 1,000 crore
This IPO consists of a fresh issue of Rs 500 crore and an offer for sale (OFS) of Rs 1,000 crore. Under the offer for sale, shares worth Rs 75 crore will be sold by Sameer Ashok Mehta, Rs 225 crore by Aman Gupta, Rs 500 crore by South Lake Investment Limited, Rs 150 crore by Fireside Ventures Investment Fund-I and Rs 50 crore by Qualcomm Ventures LLC.
Where will the company use the money Out of the amount raised from the IPO, the company will use Rs 225 crore for working capital, Rs 150 crore for brand and marketing expenses and the remaining amount for corporate purposes. boAt had confidentially filed draft papers with SEBI in April 2025 and received approval in late August. This is the company's second attempt, as it had planned a ₹2,000 crore IPO in 2022, which failed to proceed. In FY25, boAt performed strongly, reporting a consolidated net profit of ₹60 crore. This is a significant improvement from a loss of ₹79.7 crore in FY24 and a loss of ₹129.5 crore in FY23. The company's total revenue in FY25 was ₹3,097.8 crore. Founded in 2013 by Aman Gupta and Sameer Mehta, the Gurugram-based company offers products such as audio gear, smart wearables, personal grooming, and mobile accessories. ICICI Securities, Goldman Sachs (India), JM Financial, and Nomura Financial Advisory have been appointed as merchant bankers for this IPO.
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