boAt Owned by Imagine Marketing Files for IPO of Rs.2000 Crore

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2022-01-27

boAt Owned by Imagine Marketing Files for IPO of Rs.2000 Crore

According to Economic Times,the Company filed for DRHP this week.boAt was founded in 2016.boAt is one of largest Direct to Consumer(D2C) brand in India.

According to DRHP the IPO will Comprise of Fresh Issue of Rs.900 Crore and Offer to Sale Up to Rs.1100 Crore.Warburg Pincus the Largest Shareholder who holds 36% shares in the firm will sell shares worth Rs.700-800 Crore through this IPO.Also the Co-founders Aman Gupta and Sameer Mehta who own around 56% of the Stakes wishes to sell minor part of their holding.

The Company will utilise its IPO Proceeds to Repay Debts.

The New Delhi Based Company is expecting to seek valuation of about $1.5-2 Billion from the IPO.

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