BOAT IPO

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BOAT IPO details

To be announced
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About BOAT

Imagine Marketing Limited was incorporated in November 2013 and operates primarily under the brand “boAt”, launched in 2015. The company was founded and is promoted by Sameer Ashok Mehta, Aman Gupta, and South Lake Investment Ltd. It is a digital-first consumer electronics company focused on lifestyle-oriented, mass-premium products at accessible price points.The company designs, markets, and sells a wide range of consumer devices, including personal and large audio products, wearables such as smartwatches and smart rings, and charging solutions like cables, chargers, and power banks. Operations are asset-light, with manufacturing largely outsourced to strategic partners, while the company focuses on product design, branding, marketing, and distribution.

Sales are driven through a diversified omni-channel model comprising online marketplaces, the company’s direct-to-consumer website, and an expanding offline retail and distributor network across India.Key strengths include strong brand recall among young and digitally native consumers, rapid product innovation, data-driven marketing, and a scalable distribution platform that supports consistent portfolio expansion and market penetration.

Financials of BOAT

Issue size

Category Funds Raised (₹ crores)
Total issue size 1500
Fresh Issue – Proceeds go to the company 500
Offer for sale – Proceeds go to the existing investors 1000

Utilisation of proceeds

Purpose INR crores (%)
Working capital requirements 225 (45%)
Brand and marketing expenses 150 (30%)
General corporate purposes 125 (25%)

Strengths

  • Strong brand recall among young, digitally native consumers.
  • Asset-light, digital-first business model with scalable operations.
  • Diversified product portfolio across audio, wearables, and accessories.
  • Omni-channel distribution with strong online and growing offline presence.
  • Data-driven product design and marketing capabilities.

Risks

  • High dependence on third-party manufacturers and suppliers.
  • Intense competition in the consumer electronics and wearables market.
  • Profitability sensitive to marketing spend and working capital needs.
  • Exposure to rapid changes in consumer preferences and technology.
  • Significant reliance on online sales platforms for revenue.