Backed by Warburg Pincus, the consumer-tech firm has bounced back to profitability but faces headwinds from a cooling wearables market, online channel dependence and thin margins.
The company proposes to utilise the net proceeds towards funding the working capital requirements amounting to Rs 225 crore
boAt, known for its headphones and smart watches, confidentially filed for an IPO in April; 12 other firms receive SEBI nod for their IPOs
This marks the company's second attempt to go public. Previously, the company had filed draft papers in January 2022 for floating a Rs 2,000-crore IPO
The wearables major is planning to launch its IPO in FY26 and aims to raise Rs 2,000 crore, the channel reported citing sources
Founded in 2015 by Aman Gupta and Sameer Mehta, Boat has raised $171 million in funding to date and holds a 26.7 percent market share in India’s wearables segment, per IDC data for Q2 2024.
The company is awaiting regulatory nod for a Rs 1,100-crore public issue, of which Rs 900 crore will be fresh issue and the rest offer-for-sale.