Consumer electronics company boAt Lifestyle is planning to do confidential DRHP filing for IPO soon, CNBC-TV18 reported on February 21 citing sources.
The wearables major is planning to launch its IPO in FY26 and aims to raise Rs 2,000 crore, the channel reported adding that boat may seek a valuation exceeding $1.5 billion, though final figures are yet to be determined.
Previously, in 2022, boAt had filed papers for a Rs 2,000-crore IPO but withdrew due to market conditions and instead raised $60 million in private capital.
Its major investors include Qualcomm Ventures, Innoven Capital, Warburg Pincus and Fireside Ventures.
boAt was founded in 2013 with its flagship brand launched in 2014.
It holds a 26.7% market share in India's wearable market as of Q2 2024. Its audio segment remained flat in H2 2024 with a growing shift towards online sales, reported CNBC-TV18.
boat's co-founders are Aman Gupta (CMO) and Sameer Mehta (CEO).
The growth of the Indian earwear market remained almost flat in the second quarter of 2024 with a marginal growth of 0.7% year-on-year with 20.1 million units. Within earwear, the share of True Wireless Stereo (TWS) segment grew by 9.1% to reach a record high of 71%, from 65.5% a year ago, according to IDC.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
