boAt Parent Imagine Marketing Gets SEBI Nod for IPO

According to a report published on Tuesday, Imagine Marketing Ltd., the parent company of boAt, one of India’s leading brands in headphones, smartwatches, and lifestyle electronics, has received SEBI’s approval to launch its much-awaited Initial Public Offering (IPO). The company had originally filed its confidential Draft Red Herring Prospectus (DRHP) in April 2025.

Imagine Marketing is eyeing a valuation of nearly ₹13,000 crore, making this its second attempt at going public. Earlier, in January 2022, the company had filed for a ₹2,000 crore IPO, which comprised a fresh issue of ₹900 crore and an Offer for Sale (OFS) of ₹1,100 crore, but the plan did not materialize.

About Imagine Marketing (boAt)

Founded in 2013 by Aman Gupta and Sameer Mehta, Imagine Marketing has grown into a leading player in the consumer electronics and lifestyle segment. The company’s product portfolio includes:

• Audio devices (headphones, earbuds, speakers)
• Smart wearables (smartwatches, fitness trackers)
• Personal grooming products
• Mobile and tech accessories

boAt has consistently ranked among the top 5 global wearable brands and enjoys a strong market share in India, driven by its youth-centric designs, affordability, and aggressive marketing campaigns.

IPO Filing Route & Regulatory Flexibility

Traditionally, companies filing a DRHP were required to launch their IPO within 12 months of SEBI approval. However, under the pre-filing route, companies now get 18 months to launch their IPO after regulatory clearance. This additional time has proven beneficial, offering issuers greater flexibility to plan market entry.

Market experts suggest that the confidential pre-IPO route makes the IPO process less stressful. It allows companies to revise their issue size by up to 50% before launch, helping them adapt to changing market conditions and investor demand.

IPO Market Context

In 2024, several companies, including Swiggy and Vishal Mega Mart, successfully launched their IPOs through the confidential filing route. Similarly, in August 2025, SEBI cleared 13 companies, including Imagine Marketing, to raise funds via IPOs.

With the SEBI nod, Imagine Marketing is gearing up to join the list of new-age consumer brands tapping into India’s growing capital markets.

Listing Plan

The shares of Imagine Marketing (boAt) are proposed to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).