boAt-parent Imagine Marketing files updated DRHP for Rs 1500 crore IPO; check details
Imagine Marketing, the parent company behind the 'boAt' brand, has submitted its updated draft red herring prospectus (UDRHP) to Sebi for to launch its IPO.
- Oct 29, 2025,
- Updated Oct 29, 2025 3:27 PM IST
Imagine Marketing, the parent company behind the 'boAt' brand, has submitted its updated draft red herring prospectus (UDRHP) to Sebi for to launch its initial public offering (IPO) with a total issue size of up to Rs 1500 crore. The IPO comprises a fresh issue of equity shares valued at Rs 500 crore and an offer for sale (OFS) aggregating to Rs 1000 crore.
The IPO will see Sameer Ashok Mehta, Aman Gupta, South Lake Investment, Fireside Ventures Investment Fund-I, and Qualcomm Ventures LLC as selling shareholders, with their respective OFS contributions amounting to Rs 75 crore, Rs 225 crore, Rs 500 crore, Rs 150 crore, and Rs 50 crore, respectively.
The issue will be managed by ICICI Securities, Goldman Sachs (India) Securities Private, JM Financial, and Nomura Financial Advisory and Securities (India)
The company intends to utilise net proceeds from the fresh issue to fund working capital requirements totalling Rs 225 crore and invest Rs 150 crore in brand and marketing initiatives. Remaining funds are earmarked for general corporate purposes.
Imagine Marketing, operating under the boAt brand established in 2015, claims the top spot in India’s branded personal audio market, with a 26% share by value and 34% by volume for FY2025. The company also ranked third among digital-first brands in India by revenue and fourth globally in branded personal audio volume in FY2025, according to the Redseer Report.
The company's business model includes audio products, wearables such as smartwatches and smart rings, and charging solutions. For FY2025, boAt sold over 34 million units in India and offered a catalogue of more than 250 products.
In FY2025, boAt posted total revenue from operations of Rs 3070.38 crore, with the audio segment contributing Rs 2,586.04 crore (84.23%), wearables Rs 330.41 crore (10.76%), and other products Rs 153.93 crore (5.01%). The company reported a profit of Rs 61.08 crore for FY2025, a turnaround from the previous year’s losses, and achieved EBITDA of Rs 142.52 crore, with an EBITDA margin of 4.64 per cent.
boAt maintains over 115 third-party service centres in India and operates in markets including the Middle East and South Asia. With more than 75 million units manufactured domestically and 75.83% of units produced in India in Q1 FY2026, the company continues to reinforce its supply chain resilience. The founder-led management, supported by investors such as Warburg Pincus, Qualcomm Ventures, and Fireside Ventures, remains central to boAt’s ongoing development.
Imagine Marketing, the parent company behind the 'boAt' brand, has submitted its updated draft red herring prospectus (UDRHP) to Sebi for to launch its initial public offering (IPO) with a total issue size of up to Rs 1500 crore. The IPO comprises a fresh issue of equity shares valued at Rs 500 crore and an offer for sale (OFS) aggregating to Rs 1000 crore.
The IPO will see Sameer Ashok Mehta, Aman Gupta, South Lake Investment, Fireside Ventures Investment Fund-I, and Qualcomm Ventures LLC as selling shareholders, with their respective OFS contributions amounting to Rs 75 crore, Rs 225 crore, Rs 500 crore, Rs 150 crore, and Rs 50 crore, respectively.
The issue will be managed by ICICI Securities, Goldman Sachs (India) Securities Private, JM Financial, and Nomura Financial Advisory and Securities (India)
The company intends to utilise net proceeds from the fresh issue to fund working capital requirements totalling Rs 225 crore and invest Rs 150 crore in brand and marketing initiatives. Remaining funds are earmarked for general corporate purposes.
Imagine Marketing, operating under the boAt brand established in 2015, claims the top spot in India’s branded personal audio market, with a 26% share by value and 34% by volume for FY2025. The company also ranked third among digital-first brands in India by revenue and fourth globally in branded personal audio volume in FY2025, according to the Redseer Report.
The company's business model includes audio products, wearables such as smartwatches and smart rings, and charging solutions. For FY2025, boAt sold over 34 million units in India and offered a catalogue of more than 250 products.
In FY2025, boAt posted total revenue from operations of Rs 3070.38 crore, with the audio segment contributing Rs 2,586.04 crore (84.23%), wearables Rs 330.41 crore (10.76%), and other products Rs 153.93 crore (5.01%). The company reported a profit of Rs 61.08 crore for FY2025, a turnaround from the previous year’s losses, and achieved EBITDA of Rs 142.52 crore, with an EBITDA margin of 4.64 per cent.
boAt maintains over 115 third-party service centres in India and operates in markets including the Middle East and South Asia. With more than 75 million units manufactured domestically and 75.83% of units produced in India in Q1 FY2026, the company continues to reinforce its supply chain resilience. The founder-led management, supported by investors such as Warburg Pincus, Qualcomm Ventures, and Fireside Ventures, remains central to boAt’s ongoing development.