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News on Medial
boAt to launch $300-500 million IPO in next fiscal: Report
Inshorts
·
8m ago
Medial
Homegrown wearable and audio brand boAt is aiming to launch its $300-500 million IPO in the next fiscal, ET reported. ICICI Securities, Goldman Sachs and Nomura have been selected as bankers for the public offering, with boAt potentially eyeing valuation above $1.5 billion. boAt had initially filed for a public offering in 2022 but paused due to unfavourable market conditions.
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Boat’s parent Imagine Marketing files for IPO; eyes valuation of over $1.5 billion
Economic Times
·
4m ago
Medial
Imagine Marketing, owner of consumer device maker Boat, has filed draft IPO documents with India's SEBI using a confidential route. The company previously planned a Rs 2,000 crore IPO in 2022 but paused due to market conditions, opting instead for $60 million in private funding. Now, it prepares for a $300-500 million IPO, aiming for a valuation over $1.5 billion. Under SEBI's pre-filing scheme, details remain undisclosed until a more final decision.
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Flipkart-backed logistics startup BlackBuck plans IPO; to raise up to $300 million
Money Control
·
1y ago
Medial
Logistics startup BlackBuck, backed by Flipkart, is planning to launch an initial public offering (IPO) in the next fiscal year, aiming to raise up to $300 million. The IPO will consist of a mix of fresh issue and secondary share sales by existing investors. BlackBuck will use the proceeds to expand its services business and grow its core freight business. The company became a unicorn in 2021 after raising $67 million in a Series E funding round. Tech IPO activity in India is expected to rebound this year after a two-year slowdown.
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Tiger Global-Backed Logistics Unicorn BlackBuck Eyes $300 Mn IPO In FY25
Inc42
·
1y ago
Medial
Indian logistics startup BlackBuck, backed by Flipkart, is reportedly preparing for an initial public offering (IPO) in the next fiscal year, with plans to raise up to $300 million. The company has already appointed merchant bankers and lawyers for the IPO and is currently working on its draft red herring prospectus. BlackBuck aims to file the DRHP with its full FY24 financial numbers and launch the IPO in the second half of FY25. The proceeds from the IPO will be used to expand its services business and grow its core freight business.
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Grapevine: Flipkart-backed BlackBuck mulls IPO; Godrej Tyson promoters plan stake sale
VCCircle
·
1y ago
Medial
Flipkart-backed logistics startup BlackBuck is considering going public with an IPO in the next fiscal year. The company aims to raise around $300 million and plans to file the Draft Red Herring Prospectus (DRHP) with full financial numbers for FY24. The IPO is expected to be launched in the second half of the fiscal year. Additionally, the promoters of Godrej Tyson Foods are also planning to sell their stake in the company.
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Wearables brand Boat's shareholders clear IPO plan; company to raise Rs 500 crore in fresh capital
Economic Times
·
5m ago
Medial
India’s leading wearables brand, Boat, plans to file an IPO prospectus after shareholder approval, aiming to raise Rs 500 crore in fresh capital. This move follows its halted 2022 IPO attempt. Parent company, Imagine Marketing, received shareholder approval for the IPO plan. Boat's total IPO size may range Rs 2,000-2,500 crore, contingent on market conditions. Despite economic pressures and a 5% revenue decline, Boat retains a 25.7% market share in India's wearables market.
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boAt plans ₹2,000 crore IPO via confidential filing route: Report
Inshorts
·
5m ago
Medial
Consumer electronics brand boAt plans to file a confidential draft red herring prospectus (DRHP) to raise ₹2,000 crore through an IPO, CNBC-TV18 reported. The company may seek a valuation exceeding $1.5 billion, but the final figures can still change, the report said. In 2022, boAt withdrew its IPO filing due to unfavourable market conditions.
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Aman Gupta’s boAt sold audio products, smartwatches worth INR 3,376 Cr in FY23
Inc42
·
1y ago
Medial
Audio and smartwatch maker boAt recorded sales of over INR 3,000 crore in the fiscal year ending March 2023. The company's operating revenue rose by 18% to INR 3,376.7 crore during the period. However, boAt reported a loss of INR 129.4 crore in FY23, marking its first net loss since its establishment. The increase in expenses outpaced the rise in sales, resulting in a negative EBITDA margin of -1.6%. The company's major expenses included procurement costs, advertising expenses, and employee benefit expenses. boAt had postponed its IPO plans due to market volatility and has raised $177 million in funding to date.
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India's first unicorn InMobi has two IPOs on its menu now
Livemint
·
11m ago
Medial
InMobi's consumer tech unit, Glance, is expected to become profitable in the next fiscal year and may be listed separately thereafter. InMobi, India's first unicorn, plans to move its corporate headquarters from Singapore to India ahead of an IPO for its profitable ad tech business. Glance, which reaches 450 million smartphones, aims to reach one billion in the next three to four years. InMobi also plans to make larger acquisitions worth $500 million and above in the future. The company's core ad tech business has remained profitable, despite fluctuations due to the pandemic.
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Closing new deals in India despite Byju's debacle: Prosus CEO Fabricio Bloisi
Economic Times
·
12m ago
Medial
Fabricio Bloisi, the new CEO of Prosus and Naspers, plans to continue investing in early-to-late stage companies in India despite a $500 million write-off due to the collapse of Byju's. Bloisi believes that valuation resets are typical in the technology sector and that it doesn't deter long-term investors. He remains optimistic about the Indian market and sees it as a global priority for Prosus. Bloisi also mentioned that Prosus is looking for deals in AI and is interested in companies that target the next 300 million users in India. Swiggy, in which Prosus holds a stake, is preparing for an IPO, and PayU India is also planning an IPO.
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Captain Fresh to file IPO papers by mid-August, launch $50-75 mn pre-IPO round
Livemint
·
20d ago
Medial
Captain Fresh, a B2B seafood marketplace, plans to file its draft red herring prospectus (DRHP) for an IPO by mid-August. The seafood company aims for a $400 million IPO within this fiscal year. Prior to the IPO, the firm will conduct a $50-75 million pre-IPO round, where seed investors might partially or fully exit. Previously, Captain Fresh was valued at over $500 million after a $48 million funding round.
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