Imagine Marketing Ltd, the parent company of consumer electronics giant boAt, has received approval from the Securities and Exchange Board of India (SEBI) to launch its much-awaited Initial Public Offering (IPO), reportedly valued at ₹13,000 crore.
The IPO nod marks a significant milestone for the D2C (Direct-To-Consumer) powerhouse, which has rapidly evolved from a bootstrapped startup to one of India’s most recognised lifestyle brands in wearables, audio devices, and smart accessories.
IPO Details and Market Impact
According to sources familiar with the development, Imagine Marketing’s IPO will be a combination of fresh issue of shares and an Offer For Sale (OFS) by existing investors. The company aims to raise capital to:
- Expand its product portfolio in smart wearables and audio tech
- Strengthen Research & Development (R&D) capabilities
- Enhance global supply chain and manufacturing capacity
- Reduce debt and improve financial flexibility
With this IPO, Imagine Marketing is expected to target a valuation of around ₹13,000 crore, making it one of the largest consumer electronics listings in India.
boAt’s Growth Journey
Founded in 2016 by Aman Gupta and Sameer Mehta, boAt has disrupted India’s consumer tech market by offering affordable yet stylish audio products and wearables. The brand quickly became a household name, capturing strong market share in:
- Earwear (wireless earphones, headphones)
- Smartwatches (boAt Storm, Wave series)
- Speakers and Accessories
As per Counterpoint Research, boAt continues to dominate India’s wearables segment, with a market share exceeding 30% in Q1 2025.
Investor Confidence
Backed by global investors like Warburg Pincus, Qualcomm Ventures, and Fireside Ventures, Imagine Marketing has previously raised funding rounds to fuel growth. The IPO approval signals strong investor confidence in India’s booming consumer electronics and lifestyle tech sector.
Industry experts believe that the IPO could further cement boAt’s position against competitors like Noise, Fire-Boltt, and Boult Audio, while expanding into international markets.
What This Means for the Market
- The listing could trigger a re-rating of consumer tech companies in India.
- It strengthens India’s image as a hub for homegrown lifestyle electronics brands.
- Early investors may see significant exits, boosting startup ecosystem confidence.
Summary Table
| Metric | Details |
|---|---|
| IPO Approval | SEBI nod received |
| Expected Valuation | ₹13,000 crore |
| Issue Type | Fresh issue + OFS |
| Founded | 2016 (by Aman Gupta & Sameer Mehta) |
| Key Investors | Warburg Pincus, Qualcomm Ventures, Fireside Ventures |
| Market Position | Leader in earwear & wearables, >30% share |
| IPO Proceeds Utilization | R&D, product expansion, manufacturing, debt reduction |
