Mumbai54 minutes ago
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Consumer electronics brand boat is preparing to file a confidantial draft Red Hering Prospects (DRHP) for its Initial Public Offering ie IPO in FY 2025-26. The company is planning to raise Rs 2,000 crore through this IPO.
According to reports, the company wants to bring IPO on valuations of more than Rs 1.5 billion, or more than Rs 12,998 crore. However, the final figures have not been decided yet. This is the second attempt to bring the IPO of the boat.
The company also applied for IPO in 2022
Earlier in 2022, the company applied for IPO of Rs 2,000 crore. However, the company withdrew its IPO application due to the unavitable market condition. At that time, instead of listing, the boat had chosen the option to raise $ 60 million i.e. about 520 crores in private funding.
Aman Gupta is the founder of the consumer electronics brand boat.
In 2024, the company had 26.7% stake in the wearable market
The boat was made in 2013. After this, the company launched its flagship brand in 2014. Now the boat has become one of India's leading wearable and audio device manufacturer. Till the second quarter of 2024, the company had a 26.7% stake in the wearable market of the country.
Several major investors including Qualcomm Ventures, Innoven Capital, Warburg Pinks and Fireruside Ventures are the company's supports. Due to its strong presence and investor support in the market, the IPO of the boat can get good response from both institutional and retail investors.
The DRHP filing will allow BOAT to be fined their financial and valuation details before making details public. This is a step that is rapidly adopted by companies demanding market timing and regulatory approval.
