SEBI Approves boAt Parent Imagine Marketing’s IPO – Check Valuation

The market regulator Sebi on Tuesday approved the initial public offering (IPO) of electronics label boAt's parent entity Imagine Marketing, as per a document from the regulator published on Tuesday.

The earwear brand, well-known for its headphones and smart watches, confidentially filed for an IPO in April.

The confidential filing route, introduced by SEBI in November 2022, allows firms to submit IPO documents privately. This approach aids in safeguarding sensitive business information from competitors, provides higher flexibility in timing the IPO, and protects firms from premature public scrutiny.

This Aman-Gupta led company is eyeing a valuation of $1.5 billion, as per media reports. 

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In the fiscal year 2024, the Gurgaon-headquartered firm posted a fall in revenue to Rs 3,285 crore, meanwhile losses reduced to half at Rs 70.8 crore. The 2016 introduced electronics label was able ot to attain a positive EBITDA in the same period. however, sales in the audio vertical were muted initially but saw an uptick during Diwali season.

Since its inception, boAt has gained a reputation of making audio products like earphones, headphones, and speakers. Its latest additions being smartwatches among other e-accessories.

The brand became popular in India for offering affordable and reliable products, especially among young people, and sells both online and in stores.