Imagine Marketing, the parent company of the boAt brand, has submitted its updated draft red herring prospectus (UDRHP) to the Securities and Exchange Board of India (SEBI) for its planned initial public offering (IPO).
As per the regulatory filing, the IPO will feature a total issuance of equity shares with a face value of ₹1 each, amounting to an aggregate of up to ₹1,500 crore. This includes a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of equity shares totaling ₹1,000 crore.
The offer for sale consists of equity shares valued at ₹75 crore by Sameer Ashok Mehta, ₹225 crore by Aman Gupta, ₹500 crore by South Lake Investment Limited (the promoter), ₹150 crore by Fireside Ventures Investment Fund-I (part of Fireside Ventures Investment Trust), and ₹50 crore by Qualcomm Ventures LLC (individual selling shareholders).
Use of Proceeds
The funds raised from the IPO are intended for various corporate needs. Specifically, the company plans to allocate ₹225 crore for working capital requirements and ₹150 crore for brand and marketing expenses aimed at increasing product awareness and visibility. Remaining proceeds will be designated for general corporate purposes.
MUFG Intime India Private Limited will serve as the registrar for the issue, while ICICI Securities Limited, Goldman Sachs (India) Securities Private Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Private Limited are appointed as the book running lead managers for the offering.
Published on October 29, 2025
