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Consumer electronics seller boAt plans Rs.3,500-Cr IPO; looks at a valuation of $1.5 B

Economic Times  

Mumbai-based consumer electronics brand boAt Lifestyle plans to raise about INR 3,000-3,500 crore (USD 400-500 million) through a proposed IPO. The management has held talks with investment bankers and the mandate will be signed in a couple of weeks. The company is likely to be valued in the range of INR 11,000 crore (USD 1.5 billion). Private equity fund Warburg Pincus is the largest investor in the company holding close to 30% stake. Other investors include Qualcomm Ventures and Fireside Ventures which together hold less than 5% stake. The DRHP will be filed in a couple of months and the IPO is expected by early 2022. The DRHP will be filed in a couple of months and the IPO is expected by early 2022, said one of the persons. boAt sells headphones, earphones, wearables, speakers, and related accessories such as chargers and cables.