Insta
Delhi-Based boAt Plans To Float Rs 2,000 Crore IPO At $1.5-2 Billion Valuation: Report
Representative Image
Indian consumer electronics maker BoAT is set to raise Rs 2,000 crore from its initial public offering (IPO) as the company is likey to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for the IPO.
The company will likely be aiming for a valuation of around $1.5 billion-$2 billion through the IPO, which will be about five-six times of its revenue in this fiscal, sources in the know of developments were quoted in a Economic Times report.
Warbug Pincus, whic hold around 36 per cent stakes in BoAT, will be diluting its shares worth Rs 700-800 crore as the company goes public.
Co-founders Aman Gupta and Sameer Mehta together own about 56 per cent of the company and they will be divesting a minor portion of their holdings as well.
BoAT’s last valuation stood at approximately Rs 2,200 crore as it raised Rs 50 crore from Qualcomm Ventures back in April 2020.
BoAT has emerged as one of the leading direct-to-consumer (DTC) brands in recent times and it reported Rs 1,500 crore in revenue in FY 2020-21.
“They (Boat) are getting indications to price the IPO at revenue multiples of five to six times,” a source was quoted in ET report as saying.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
