So many crores will be invested in fulfilling the plan of wearable brand

0

boAt Lifestyle, one of the world’s largest wearables businesses based in Delhi NCR, is reportedly planning an initial public offering (IPO). The firm aims to earn around Rs 3000 and Rs 3500 crore from its first offer. According to a report in the Economic Times, the IPO could come in the value of the consumer electronics brand at around $1.5 billion, and the company’s management has started discussions with investment bankers.

In a few weeks, the IPO mandate is likely to be signed. The primary and secondary shares will be sold as part of the IPO. boAt is currently backed by a number of investors including Warburg Pincus, Qualcomm Ventures and Fireside Ventures. Warburg Pincus is the largest investor in BOAT with a 30% interest, followed by Qualcomm Ventures and Fireside Ventures. The last two investors have a combined interest of less than 5% in boAt.

Read More  Disha app came to rescue the stranded girl

Aman Gupta and Sameer Mehta founded boAt in 2016 and have since grown to become the fifth largest wearables brand in the world. The company offers a variety of low-cost consumer electronics items including earbuds, Bluetooth headphones, speakers, and smartwatches.

boAt sales for the financial year 2019-20 grew 196 per cent to Rs 701 crore, while profit grew 470 per cent to Rs 49 crore. Currently, boAt’s products are manufactured in India and China. However, the company says that it is focusing on localizing its supply chain.
dillee mein enaseeaar sthit dun

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here