Popular lifestyle and electronic brand Boat has filed for an IPO of ₹2000 crore. Imagine Marketing, the holding company of Boat eyes for a $1.5-2 billion valuation. The company plans to offer new shares worth $120 million and the offer for sale shares worth $146 million.
In the IPO, one of the Boat investors, South Lake Investment, plans to sell its share worth $106 million. The boat was founded six years ago, and last year’s valuation was around $300 million.
Boat plans on using the money raised from the IPO to pay the past and current debts. Boat is a popular brand in the Indian market. It manufactures and sells a range of electronic products, which vary from headphones, fitness wearables, gaming controllers, battery packs, earphones, etc.