Boat IPO Alert: Aman Gupta’s Brand Plans $300-$500 Million Offering in Next Fiscal

Boat, the popular Indian headphone and earphone brand, is gearing up for its Initial Public Offering (IPO), aiming to raise between $300 million and $500 million in the next financial year. The company has engaged ICICI Securities, Goldman Sachs, and Nomura as bankers for the IPO, with ICICI Securities leading the process, according to reports from Moneycontrol. Sources suggest Boat is eyeing a valuation exceeding $1.5 billion.

Boat had previously planned an IPO in 2022 but postponed it due to unfavorable market conditions. Since then, the company secured $60 million in private funding from investors Warburg Pincus and Malabar Investments at a valuation of at least $1.2 billion.

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Shareholding Structure
Aman Gupta: 26.80%
Sameer Mehta: 26.80%
Warburg Pincus: 38.30%
Fireside Ventures: 3.60%
Malabar Investments: 1%

Boat was co-founded in 2015 by Aman Gupta and Sameer Mehta and has raised $171 million in funding to date. It holds a 26.7% share in India’s wearables market. Despite a 5% dip in revenue to ₹3,285 crore in FY24, the company significantly reduced its losses to ₹70.8 crore and reported positive EBITDA. Its sales performance was especially strong during the festive Diwali season. The IPO marks a significant step for Boat, which has become a household name in India’s consumer electronics space. With its solid market position and a diversified product portfolio, the company aims to attract investors, despite the slight revenue decline last year.

Disclaimer: This information is general in nature and does not constitute investment advice. Please consult financial professionals before making investment decisions.