boAt Lifestyle to soon release its IPO; looks forward to raising Rs 300-350 crore

Headphone maker company boAt Lifestyle is all set to bring its initial public offering (IPO) and looks forward to raising around Rs 3000 to Rs 3500 crore. Further, details regarding boAt IPO, including its price band, freshly issued shares, and the shares to be offered for sale (OFS) are not yet known. The company is still on talking terms and will soon announce the public offering.

According to a report published in Economic Times, the anticipated IPO will take the brand's value to about 1.5 billion dollars. Furthermore, the mandate regarding the IPO will be signed in a couple of weeks, and further details will be provided after that. Earlier this year, the company raised around Rs 750 crore from Warburg Pincus, followed by a Rs 50 crore investment by Qualcomm. Furthermore, in 2019, boAt Lifestyle received an investment of Rs 50 crore from BAC Acquisitions.

Meanwhile, anyone looking forward to investing in the boAt IPO needs to wait a few more weeks for the upcoming updates. 

boAt Lifestyle

The Mumbai-based company, boAt Lifestyle, was founded in 2016 by Aman Gupta and Sameer Mehta. The company sells many products under its brand, majorly focusing on headphones followed by Bluetooth speakers, electronic gadgets, earphones, wearables, and so on. Within a short period, the company has emerged as one of the biggest lifestyle brands in the market and is in direct competition with other companies like JBL, Bose, Samsung, One Plus, and so on. boAt has also partnered with several big events, including the Indian Premier League, and had eminent sports personalities such as Rishabh Pant, Hardik Pandya, KL Rahul, Prithvi Shaw, and Shikhar Dhawan others as its brand ambassador. The company has its manufacturing units in India as well as in China.

Some of its major investors include Warburg Pincus, the largest one, followed by Qualcomm Ventures and Fireside Ventures. 

Image: boAt/PTI