boAt looking at IPO in FY25-FY26; definitely not listing this year, says co-founder Aman Gupta

21 July 2023

boAt, the renowned brand in audio and wearables, had previously postponed its plans to go public due to market instability. However, co-founder Aman Gupta has recently stated that the company is in no rush to list and is now looking at the timeframe of FY25-FY26 for its initial public offering (IPO). Gupta emphasized in an exclusive interview with PTI that the startup is currently well-funded and financially stable.

Regarding the possibility of raising additional capital before the IPO, Gupta mentioned that while boAt doesn't urgently require funds, their decision may depend on the company's progress and growth ambitions. Last year, boAt's parent company, Imagine Marketing, successfully secured Rs 500 crore in funding from existing shareholder Warburg Pincus and new investor Malabar Investments. Future funding will aim to support the company's expansion into the fast-growing smartwatches segment and to solidify its position as a leader in the personal audio market.