Boat floats ₹2,000 crore IPO, expects $1.5-2 billion valuation

• Boat, one of the largest audio-based electronics in India has decided to file a draft red herring prospectus worth Rs 2,000 crore to the Securities and Exchange Board of India.

• The company based in New Delhi will seek a valuation of $1.5-2 billion in the IPO.

• The private equity major Waeburg Pincus will now divest Rs 700 to 800 crore in the IPO.

• The confounders owning fifty-six per cent share will dilute the major portion.

• The company is now eyeing five to six times more revenue this fiscal year expecting it to double by March.

• The company will also set up funds in the D2C brands after it becomes prominent.