Imagine Marketing, the parent company of popular wearables brand boAt, has filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹1,500 crore through an initial public offering (IPO).
The IPO will include a fresh issue of ₹500 crore and an offer for sale (OFS) of ₹1,000 crore, where existing promoters and investors will offload part of their holdings.
According to the draft, the proceeds from the issue will be used for working capital requirements, marketing and brand building, and general corporate purposes. The company has reported revenues of around ₹3,070 crore in FY25, making it a leading player in India’s audio and wearables market.
Industry analysts say the IPO could strengthen boAt’s financial base and position it for expansion in both domestic and global markets, marking a major step for India’s consumer tech sector.
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