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boAt reduces IPO size to Rs 1,500 Cr

EntrackrEntrackr · 4h ago
boAt reduces IPO size to Rs 1,500 Cr
Medial

boAt reduces IPO size to Rs 1,500 Cr Consumer electronics brand boAt has filed an updated draft red herring prospectus (DRHP) with SEBI, reducing its IPO size to Rs 1,500 crore from the earlier Rs 2,000 crore. The Rs 1,500 crore IPO includes a fresh issue of equity shares worth Rs 500 crore, while existing shareholders and co-founders will offload shares worth Rs 1,000 crore through an offer for sale (OFS). According to the DRHP, the OFS will see participation from South Lake Investment (Warburg Pincus), which will offload shares worth Rs 500 crore, accounting for half of the total OFS. Fireside Ventures and Qualcomm Ventures will sell shares worth Rs 150 crore and Rs 50 crore, respectively. The co-founders will also participate in the OFS, with Sameer Mehta selling shares worth Rs 75 crore and Aman Gupta, co-founder and CMO, set to realise Rs 225 crore from the IPO. Out of the total fresh issue proceeds, Rs 225 crore will be used for working capital needs and Rs 150 crore for branding and marketing. The remaining funds will go towards general corporate purposes. As on the date of UDRHP, South Lake Investment Ltd (Warburg Pincus) is the largest shareholder in boAt with a 39.35% stake, while co-founders Sameer Mehta and Aman Gupta hold 24.75% and 24.76% stakes, respectively. Other key investors include Fireside Ventures (3.28%), Qualcomm Ventures (2.28%), and Malabar Select Fund (1.20%). Founded by Aman Gupta and Sameer Mehta, boAt operates on a direct-to-consumer (D2C) business model, focusing on affordable, stylish, and high-quality audio products, wearables, and accessories. The brand drives sales through online marketplaces like Amazon and Flipkart, its own website, and maintains a strong offline presence across retail stores. boAt filed its Draft Red Herring Prospectus (DRHP) with SEBI via confidential route in April 2025. In the fiscal year ended March 2025, boAt reported Rs 3,073 crore in operating revenue and a net profit of Rs 61 crore, turning around from a loss of Rs 79.6 crore in FY24. In the first quarter of FY26, the company reported operating revenue of Rs 628 crore and a net profit of Rs 21.35 crore.

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boAt makes turnaround in FY25 with Rs 60 Cr profit

EntrackrEntrackr · 1m ago
boAt makes turnaround in FY25 with Rs 60 Cr profit
Medial

boAt makes turnaround in FY25 with Rs 60 Cr profit Consumer electronics firm boAt reported a net profit of Rs 60 crore in FY25, a significant turnaround for the Gurugram-based company as it curtailed losses across its business segments. The company’s austerity measures slightly impacted its top line, which stood at Rs 3,073 crore in FY25 from Rs 3,118 crore in FY24, according to company documents reviewed by Entrackr. Sales of products such as earbuds, speakers, airdopes, and wireless speakers contributed Rs 3,070.4 crore to the company’s revenue, while other operating income added Rs 2.9 crore. Including non-operating income, boAt’s total revenue stood at Rs 3,098 crore in FY25. India remained its core market, accounting for Rs 3,050.5 crore in sales, while international revenue grew 44% year-on-year to Rs 20 crore in FY25. Audio continued to power growth with Rs 2,586 crore in revenue (up 5%), whereas the wearables segment shrank sharply by 40% to Rs 330.4 crore. boAt cut overall expenses by 6% to Rs 3,040 crore. Purchases of stock-in-trade were the largest cost expenditure for boAt, which dropped by 8.9% to Rs 2,070 crore in FY25 from Rs 2271 crore in FY24. According to the documents, its ad spending rose around 7% to Rs 390 crore, while employee costs grew slightly by 3.1% to Rs 135 crore. boAt has raised over $170 million to date, including a $60 million round led by Warburg Pincus and Malabar Investments in 2023. Imagine Marketing, the parent of boAt, is set to become the first Indian D2C electronics brand to go public after receiving SEBI’s nod for its IPO. The markets regulator has cleared its confidential DRHP, and the company is eyeing a Rs 2,000 crore raise, including a Rs 900 crore fresh issue.

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report

EntrackrEntrackr · 6m ago
Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report
Medial

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report Home furniture and sleep solutions company Wakefit has selected three investment banks to help with its plans to go public. According to a Moneycontrol report, the company has chosen Axis Capital, IIFL Capital Services, and Nomura to guide its initial public offering (IPO). Wakefit is expected to file draft papers for the IPO in the coming months. As per the report, the company aims to raise between Rs 1,500 crore and Rs 2,000 crore ($200 million). It has not yet decided how much will be raised through new shares and how much will be sold by current investors. So far, Wakefit has raised more than $100 million (around Rs 850 crore) from investors such as Peak XV Partners, Paramark Ventures from South Korea, and Verlinvest from Europe. Some of these early investors may sell their shares in the IPO. Wakefit started as a mattress company but later began selling other furniture like beds, tables, and chairs. As per TheKredible, Wakefit’s revenue from operations increased by 21% to Rs 986.4 crore in FY24, as compared to Rs 812.6 crore in the previous fiscal year. The firm managed to control its losses by 90% to Rs 15 crore from Rs 145 crore in FY23. Wakefit competes with companies like SleepyCat, Duroflex, Pepperfry, IKEA, and Woodenstreet in India’s furniture and sleep product market.

Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO

EntrackrEntrackr · 1m ago
Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO
Medial

**Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO** InCred Holdings is preparing for an IPO with a total issue size pegged at $460-560 million. As part of the offer, the fintech firm is set to raise Rs 1,500 crore (around $172 million) via a fresh issue of shares. According to the internal documents reviewed by Entrackr, the company’s board will approve a resolution to issue equity shares worth up to Rs 1,500 crore in a fresh issue. The firm is also planning to raise Rs 300 crore through a pre-IPO placement, which will be counted as part of the fresh issue. The documents further indicate that InCred Holdings is in the process of submitting its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company’s shares will be listed on both the BSE and NSE following regulatory approvals. Founded by Bhupinder Singh, InCred operates as a tech-first non-banking financial company (NBFC), focusing on consumer, SME, and education lending. The group claims to leverage proprietary risk analytics, data science, and digital-first operations to serve retail and MSME borrowers across India. The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. InCred Finance has raised over $370 million to date, including $60 million in its Series D round, which also marked its entry into the unicorn club. Meanwhile, InCred Capital, which oversees wealth and asset management, M&A advisory, capital markets, equity research, and broking, secured $50 million in funding, led by a clutch of family offices. On the financial side, InCred Finance has reported a 47% year-on-year increase in its revenue to Rs 1,872 crore in FY25 from Rs 1,270 crore in FY24. At the same time, the profits of the firm grew 18% to Rs 374 crore. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

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