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.

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