BoAt IPO: A consumer electronics company files papers for an IPO

Imagine Marketing, BoAt's parent firm, has filed a preliminary prospectus with SEBI to seek Rs 2,000 crore through an IPO (IPO). According to the draught red herring prospectus (DRHP) submitted with the market regulator, the BoAt IPO will include a fresh issue of equity shares worth up to Rs 900 crore and an offer for sale worth up to Rs 1,100 crore.

The consumer electronics company will use the proceeds from the new issue to repay debt, allowing it to retain a favourable debt-to-equity ratio while also allowing it to use internal accruals for additional investment in business growth and expansion..

Imagine Marketing was established in 2013, with the launch of its flagship brand, BoAt, in 2014. According to a PTI report, BoAt has established top market positions in India in terms of volume and value across various, high-growth consumer categories like as audio and smartwatches since its start.

Furthermore, Imagine Marketing has a remarkable track record of quick and sustainable expansion. From FY19 to FY21, the company's operating revenue increased at a CAGR of 141 percent while maintaining profitability.

The book running lead managers for the BoAt IPO are Axis Capital Limited, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited, and ICICI Securities.