boAt Parent Imagine Marketing Files Updated Papers for ₹1,500 Crore IPO

Mumbai, October 29: Imagine Marketing Ltd, the parent company of popular wearables brand boAt, has announced that it has filed its updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The boAt IPO will be launched with an aim to raise ₹1,500 crore through an initial public offering (IPO).

According to the updated DRHP, the boAt IPO will include a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of ₹1,000 crore by existing shareholders and promoters. The company has appointed ICICI Securities, Goldman Sachs (India) Securities, JM Financial, and Nomura Financial Advisory and Securities (India) Pvt Ltd as the book-running lead managers for the IPO.

Imagine Marketing Ltd is an Indian company and the parent company of boAt. It manufactures and sells electronic products such as smartwatches and headphones. The company was established in 2013, and is headquartered in Mumbai, Maharashtra.

boAt Details About Selling Shareholders

Under the OFS element, South Lake Investment will sell shares worth ₹500 crore, while Aman Gupta, co-founder of boAt, will sell shares worth ₹225 crore. Additionally, co-founder Sameer Ashok Mehta will sell shares worth ₹75 crore. Lastly, Fireside Ventures Investment Fund-I and Qualcomm Ventures LLC will offload shares worth ₹150 crore and ₹50 crore, respectively.

boAt’s Second IPO Attempt

This is the second time that the company has filed its IPO papers with SEBI. Its last attempt came in January 2022. Then, it filed for ₹2,000-crore IPO, which included a fresh issue of ₹900 crore and an OFS of ₹1,100 crore. Now, the company has used SEBI’s confidential pre-filing route, which allows companies to submit IPO papers without having to disclose key information to the public.

boAt Funding Working Capital Requirement Main Fundraising Motive

Imagine Marketing will utilise ₹225 crore from the IPO proceeds to fund its working capital requirements. It will use ₹150 crore for brand and marketing initiatives, The balance amount will be used for general corporate purposes.

Key Details About boAt Financial Performance

The company reported a consolidated net profit of ₹60 crore in Q2FY26. This is a positive performance as it reported a loss of ₹79.7 crore in FY24 and ₹129.5 crore in FY23. Revenue for FY25 stood at ₹3,097.8 crore.

REF: https://www.sebi.gov.in/sebi_data/attachdocs/oct-2025/1761711834836.pdf

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