boAt parent Imagine Marketing files updated DRHP with SEBI for ₹1,500 crore IPO; 5 key things to know

boAt IPO: Imagine Marketing, the parent company of wearables brand boAt, has filed updated draft papers with the markets regulator Securities and Exchange Board of India to raise ₹1,500 crore via an initial public offering (IPO).

The initial share sale consists of a fresh issue of equity shares amounting to ₹500 crore and an offer for sale (OFS) of ₹1,000 crore, according to the updated draft red herring prospectus (UDRHP) filed on Tuesday.

boAt IPO: Objects of the offer

Under the OFS, promoters Sameer Aman Gupta, Ashok Mehta and South Lake Investment Ltd will offload their stake. Investors Qualcomm Ventures LLC and Fireside Ventures Investment Fund-I will also divest shares.

Funds to the tune of ₹225 crore will be utilised for working capital needs, ₹150 crore for brand marketing and marketing expenses and the remainder for general corporate purposes.

boAt IPO: Financials

Imagine Marketing returned to profitability in the financial year 2024-25. The company posted a consolidated profit after tax of ₹61.08 crore as against a ₹79.68 crore loss in the previous fiscal year.

In the first quarter of FY26, it reported a net profit of ₹21.35 crore vs a loss of ₹31.07 crore in the year-ago period.

Its revenue from operations declined 1.42% to ₹3,073.27 crore in FY25 as against ₹3,117.67 crore in the year-ago period.

boAt IPO: Reservation

boAt's parent Imagine Marketing has set aside 75% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors and 10% for retail individual investors.

About Imagine Marketing

Imagine Marketing, which was established in 2013 by Aman Gupta and Sameer Mehta, operates primarily under the 'boAt' brand. It offers audio, wearables and charging solutions products.

Imagine Marketing IPO: Book-running lead managers and registrar of boAt's parent

ICICI Securities, Nomura Financial Advisory and Securities, and JM Financial are the IPO's book-running lead managers, while MUFG Intime India is the registrar.