Homegrown tech firm boAt's parent firm files for IPO papers

IANS April 7, 2025 167 views

Imagine Marketing, the parent company of popular wearables brand boAt, has quietly filed IPO papers with SEBI using a confidential pre-filing approach. Founded by Aman Gupta and Sameer Mehta in 2013, the company previously attempted an IPO in 2022 but withdrew those plans. The confidential route provides more strategic flexibility, allowing potential changes in IPO size and timing. This move reflects a growing trend among Indian tech companies seeking public market entry through innovative filing methods.

"Submitting DRHP doesn't guarantee the IPO will happen" - Imagine Marketing Spokesperson
New Delhi, April 7: Homegrown wearables brand boAt's parent company, Imagine Marketing, on Monday announced it has filed draft papers for an initial public offering (IPO) with market regulator Securities and Exchange Board of India (SEBI) through the confidential pre-filing route.

Key Points

1

Aman Gupta's boAt parent seeks public listing through confidential route

2

Second IPO attempt after 2022 shelved plan

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Confidential filing offers more flexibility for market entry

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Consumer tech brand targeting Indian stock exchanges

This is Aman Gupta-run company's second attempt at going public, after first filing a full draft red herring prospectus (DRHP) in 2022.

The confidential filing route allows companies to submit their plans without publicly revealing all the details at the early stage.

The DRHP becomes available to the public only at a later phase. According to a public notice, the company has submitted its pre-filed DRHP under SEBI's Issue of Capital and Disclosure Requirements Regulations.

The proposed IPO would see Imagine Marketing list its equity shares on the mainboard of the Indian stock exchanges.

Earlier, in January 2022, the company had filed for a Rs 2,000 crore IPO. That plan included a fresh issue of Rs 900 crore and an offer-for-sale (OFS) worth Rs 1,100 crore.

However, the company later shelved the plan and has now chosen the confidential route instead. It also made it clear that submitting the DRHP doesn't mean the IPO will definitely happen.

Imagine Marketing, founded in 2013 by Gupta and Sameer Mehta, owns popular consumer tech brand boAt.

The company offers a wide range of products, including audio gear, smart wearables, personal grooming items, and mobile accessories.

More Indian companies are now using the confidential filing route for IPOs. Recently, Tata Capital and edtech firm PhysicsWallah also followed this method.

In 2024, both Swiggy and Vishal Mega Mart went public successfully after initially filing confidentially. Other companies like Oyo and Tata Play also used the confidential route, though they later chose not to go ahead with their IPOs.

Market experts say this filing method gives companies more time and flexibility. Unlike the traditional IPO process, where companies must go public within 12 months of SEBI's approval, the confidential route gives them up to 18 months.

It also allows changes in the size of the IPO -- up to 50 per cent -- before releasing the final document.

Reader Comments

R
Rahul K.
boAt has come such a long way! Remember when they just sold earphones? Now they're going public 🚀 Excited to see how this IPO turns out. Their products are really good quality for the price.
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Priya M.
Interesting that they're using the confidential route this time. Makes sense after their first attempt didn't work out. The market conditions are much better now though!
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Ankit S.
I own 3 boAt products and they've all been great. But I'm a bit concerned about their ability to compete long-term against global brands like Apple and Samsung. Hope they use the IPO money for R&D.
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Sneha R.
The confidential IPO route seems to be becoming the new normal. Smart move by boAt to keep their options open. Wonder what valuation they're targeting this time?
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Vikram J.
I appreciate that they're being transparent about how filing doesn't guarantee the IPO will happen. Too many companies create unnecessary hype. Respect for that honesty.
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Neha T.
Their wireless earbuds are my daily drivers! If the IPO happens, I might just buy a few shares to support them 💙 Love seeing Indian brands succeed like this.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
boAt Aman Gupta Imagine Marketing IPO SEBI Indian Startups Technology Firms
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