boAt's parent firm Imagine Marketing secures Sebi approval for IPO

Imagine Marketing, parent company of boAt, has secured Sebi approval for its IPO through the pre-filing route, eyeing a $1.5 bn valuation

Imagine Marketing, the parent company of consumer electronics brand boAt, has secured approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO) through the confidential pre-filing route, Reuters reported on Tuesday. This marks the company's second attempt to go public.

 

Backed by Warburg Pincus, the company is reportedly eyeing a valuation of about $1.5 billion.

 

boAt's second IPO attempt

boAt, founded in 2013 by Aman Gupta and Sameer Mehta, has grown from an audio accessories maker into a broad-based lifestyle electronics player. Its product portfolio now spans smartwatches, personal grooming devices, and mobile accessories, alongside its core headphones and earbuds range.

 

In January 2022, Imagine Marketing had first filed draft papers for a ₹2,000-crore IPO, which included a fresh equity issue of ₹900 crore and an offer for sale of up to ₹1,100 crore. That plan, however, was eventually shelved.

 

The firm has now opted for the confidential pre-filing, a route that has been gaining traction among Indian companies.

 

Introduced by Sebi last year, the process gives issuers greater flexibility as they can tweak the issue size by up to 50 per cent until filing the Updated Draft Red Herring Prospectus (UDRHP) and have 18 months to launch the IPO post-Sebi’s observations, compared with 12 months under the traditional route.

 

13 IPOs get Sebi greenlight in August

Imagine Marketing is one of 13 companies that received Sebi’s nod to raise funds via IPOs in August.

 

The list includes Urban Company, Juniper Green Energy, Allchem Lifescience, Omnitech Engineering, KSH International, Ravi Infrabuild Projects, Mouri Tech, Priority Jewels, Corona Remedies, Om Freight Forwarders, Jain Resource Recycling, and Pace Digitek. These approvals reflect rising momentum in India’s primary market, where 50 companies have already listed so far in 2025, with more than a dozen debuts in August alone.

 

Among the upcoming listings, Urban Company’s public issue is expected to be one of the largest, pegged at ₹1,900 crore. This comprises a ₹429 crore fresh issue and an offer for sale worth ₹1,471 crore, as per its draft prospectus.

 

All these upcoming IPOs, including Imagine Marketing’s, will list on the BSE and NSE.