Boat gets regulatory nod for IPO, Aman Gupta's offer for sale revealed: Report
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Boat co-founder Aman Gupta Photograph: (File photo)
Boat IPO: Boat turned profitable in the financial year 2025. The company posted a net profit of Rs 60 crore. The company had posted a loss of Rs 79.7 crore in FY24 and Rs 129.5 crore in FY23.
Boat's parent company, Imagine Marketing, has received the regulatory approval for its Rs 1500 crore IPO. The company's IPO may include a fresh issue of up to Rs 500 crore and an offer for sale worth Rs 1,000 crore.
The offer for sale includes shares worth Rs 75 crore by Boat co-founder Sameer Ashok Mehta, shares worth Rs 225 crore by Aman Gupta, and shares worth Rs 500 crore by South Lake Investment Limited, reported Reuters.
All you need to know about boAT's IPO plan
The company has said in the regulatory filing that it will use the fund for working capital requirements amounting to Rs 225 crore, branding and marketing amounting to Rs 150 crore.
Reuters reported that boAT filed confidential draft papers in April and secured SEBI's approval in late August.
The company had also tried to go public in 2022 with a Rs 2000 crore IPO.
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Boat turned profitable in the financial year 2025. The company posted a net profit of Rs 60 crore. The company had posted a loss of Rs 79.7 crore in FY24 and Rs 129.5 crore in FY23.
The company's consolidated revenue was Rs 3097.8 crore. It was established by Aman Gupta and Sameer Mehta in 2013. It sells speakers, headphones and earphones, and smart watches.
Boat faces stiff competition from Noise and Fire-Boltt and global giants Xiaomi and OnePlus in India's fast-growing wearable market.