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.
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