boAt, officially named Imagine Marketing Services Ltd., is one of India's prominent audio and wearable brands, with a market share of 27%. The company was established in November 2013. Wireless earbuds, speakers, home audio equipment, smart watches, wired headphones, and a variety of mobile accessories are the major products that boAt designs and manufactures. Furthermore, the company promotes its products through public events and collaborations with influencers and sports teams. According to an IDC report, boAt is known to be the fifth-largest seller of wearable electronics, competing withNoise, Mivi, and Leaf, to name a few.
Talking about the boAt unlisted shares, the company offers a golden opportunity to investors to earn flabbergasting ROI. Here in this write-up, we'll walk you through boAt unlisted shares and how it's becoming a high-value investment for you.
The track record of financial performance of the company
Since its inception, the company's financial performance has been going well. This company, boAt lifestyle, registered gross revenue of over Rs 500 crores in FY19-20 and aims to double its revenue by FY24 with the robust demand for products such as audio devices and accessories in the country. Undoubtedly, the company's financial performance has been quite strong and EBITDA positive. The co-founder of boAt, Aman Gupta, said in a statement, "the company has a sustainable approach to growth and is not burning money like many start-ups. FY23-24 is where we would do Rs1000 crore revenue." Today, the company has created a community of over 2 million "boAtheads" consumers and sells between 14,000-15,000 units daily. The fact is that the company witnessed a 20% surge in demand for its products amidst the pandemic. The track record of the financial performance of boAt reveals that the company has been growing since its inception and giving great opportunities to investors for unlisted shares.
Benefits of investing in boAt unlisted shares
There are numerous benefits of investing in boAt unlisted shares, which include:
- The boAt is prominent for being India's largest digital-first brand, holding a leading market position in the stock market.
- It is a well-known consumer brand with a clear value proposition and a robust market position.
- The current unlisted share price of the company is Rs. 903, which is a good price compared to other companies.
- boAt unlisted shares give you an opportunity to raise a high ROI on the investment
- boAt unlisted shares are a great way to boost and diversify your investment portfolio
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boAt' s initial public offering (IPO) with SEBI
Imagine Marketing Ltd., the parent company of boAt, filed a DRPH for boAt IPO on 26 January 2022 with SEBI for an IPO of Rs. 2000 crores. According to boAt IPO DRPH (FDraft Red Herring Prospectus), this offer consists of Rs. 900 Crores of equity shares and an Offer for Sale (OFS) of Rs. 1100 crores. However, the company is planning to raise Rs. 180 crores via boAt Pre-IPO placement. However, the SEBI approved the boAt IPO on 18 May 2022, but the boAt IPO release date still needs to be revealed. It is because the company chose to withdraw or postpone the IPO plan. Due to this, the company has preferred to raise a capital of Rs 500 crores from its existing shareholders, an affiliate of Warburg Pincus (US-based private equity fund provider), the company holds about 30% shares in boAt and a new investor, Malabar investments having less than 5% shares in boAt.
Future plans of boAt after IPO withdrawal
Why did the company withdraw its IPO from SEBI? We know that this question is trotting in your mind too. After looking at the company's strategy, it plans to make smartwatches its second flagship product after audio devices. Let's confirm this with the statement of the company's co-founder, Aman Gupta himself, who said, "We now want to make smartwatches our second core and will replicate the boAt digital playbook to become global leaders in this category as well." This is indeed the largest initiative to be taken by the company. This is one of the main reasons for the delay in the IPO; however, the company does plan to go through the IPO after 12- 18 months.
To conclude, it can be said that boAt is a well-known company with strong financials and thus attracts many potential investors to invest in the pre-IPO shares of boAt. If you're interested in investing in boAt unlisted shares, Stockify is here to help you throughout the buying process. For any queries or information, we're always here to help. Connect with us today.
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