boAt preparing to file confidential DRHP for ₹2,000 crore IPO, potential launch in FY26: Report

The report said that the initial share sale is expected to launch in the financial year 2025-26 (FY26).

boAt is a producer of consumer electronics, focusing on audio products such as earbuds, headphones, and speakers. It was founded by Aman Gupta and Sameer Mehta.

The company also makes smartwatches, chargers, power banks, cables and mobile accessories.

boAt IPO: Why do companies choose the confidential IPO filing route?

Introduced by SEBI in November 2022, the confidential filing route allows firms to submit their DRHP privately. This approach helps them protect sensitive financial details and business plans.

boAt financials

In the financial year 2023-24 (FY24), boAt's revenue from operations fell 5% to ₹3,285 crore, while losses narrowed to ₹70.8 crore.

The company reported a positive EBITDA (Earnings before interest, taxes, depreciation and amortisation) in FY24.

Notably, boAt had filed for an IPO in 2022 but later withdrew it. The company then raised ₹60 million from Warburg Pincus, Innoven Capital, Qualcomm Ventures and Fireside Ventures.

Upcoming IPOs

Apart from boAt, depository firm National Securities Depository Ltd (NSDL) is preparing to launch its ₹3,000-crore IPO by next month.

"Our dates are expiring next month. We are rushing against time to get things done fast. We will try (to launch the IPO before that)," the official said.

NSDL got SEBI's go-ahead in September of last year. According to reports, the State Bank of India (SBI), HDFC Bank and State Bank of India (SBI) plan to divest 5.72 crore shares in the public offer, which will be entirely an offer for sale (OFS).

EPC company LCC Projects has also filed draft papers with SEBI to raise funds via IPO. The proposed public offer will be a mix of fresh issue worth ₹320 crore and an OFS of 2.29 crore shares by promoters.