boAt gears up for IPO, plans Rs 2,000 cr confidential DRHP filing soon

Consumer electronics brand boAt may target a valuation exceeding $1.5 billion

Consumer electronics brand boAt is preparing to file a confidential Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) in the upcoming financial year 2025-26, according to sources cited by CNBC-TV18. The company is reportedly aiming to raise Rs 2,000 crore through the listing.

 

The electronics brand may target a valuation exceeding $1.5 billion, although final figures are yet to be determined.

 

The upcoming IPO marks the company’s second attempt at going public after it initially filed for a Rs 2,000 crore IPO in 2022 but later withdrew due to unfavourable market conditions. Instead of proceeding with the listing at the time, boAt opted to secure $60 million in private funding.

 

boAt, founded in 2013 and launching its flagship brand in 2014, has grown into one of India’s leading wearable and audio device manufacturers. As of the second quarter of 2024, the company holds a 26.7 per cent share in the country's wearable market. While the audio segment showed stability in the latter half of 2024, the brand witnessed an increasing shift towards online sales, CNBC-TV18 reported.

 

The company is backed by major investors, including Qualcomm Ventures, Innoven Capital, Warburg Pincus, and Fireside Ventures. With its strong market presence and investor backing, boAt’s IPO is expected to generate significant interest from both institutional and retail investors.

 

The confidential filing of the DRHP will allow boAt to finalise its financials and valuation details before making the information public, a move that is increasingly being adopted by companies seeking flexibility in market timing and regulatory approvals.

 

As boAt prepares for its public market debut, analysts will be closely watching its financial performance and growth strategy, especially in a highly competitive consumer electronics landscape.