India’s leading audio and wearable brand boAt has decided to reduce its Initial Public Offering (IPO) size from ₹2,000 crore to ₹1,500 crore, according to recent reports. The company aims to move forward with its public debut as market conditions become more favourable.
Why boAt Reduced Its IPO Size
boAt initially filed for an IPO worth ₹2,000 crore in 2022, but later postponed the plan due to volatile market conditions. Now, with the Indian IPO market showing strong recovery, the brand is preparing to relaunch — this time with a smaller issue size to attract more investors and ensure better valuation.
The revised IPO structure will likely include both fresh shares and an offer for sale (OFS) by existing investors. boAt’s parent company, Imagine Marketing Ltd, has reportedly re-engaged investment banks to finalise details before filing updated documents with SEBI.
What It Means for Investors
A smaller IPO size often signals a more conservative approach, ensuring better demand and pricing. For retail investors, this could be an attractive entry point into one of India’s most recognised consumer tech brands.
boAt continues to lead the Indian wearable market, competing with global brands like Noise, Fire-Boltt, and OnePlus. Its IPO is expected to boost the company’s growth in international markets and help reduce debt.
Summary Table
| Particulars | Details |
|---|---|
| Company Name | Imagine Marketing Ltd (boAt) |
| Industry | Consumer Electronics / Wearables |
| Original IPO Size | ₹2,000 crore |
| Revised IPO Size | ₹1,500 crore |
| IPO Type | Fresh Issue + Offer for Sale (OFS) |
| Reason for Cut | Market correction & better valuation strategy |
| Lead Managers | Undisclosed (to be reappointed) |
| Status | Preparing for fresh SEBI filing |
| Market Position | No.1 in Indian wearables segment |
| Competitors | Noise, Fire-Boltt, OnePlus |
Expert Take
Analysts say the reduction in IPO size shows that boAt is focusing on sustainable growth over aggressive fundraising. By optimising the offer amount, the brand aims to achieve a fair valuation and a strong debut when it lists on the stock market.
