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The markets regulator, SEBI, has approved the initial public offering (IPO) of boAt parent company, Imagine Marketing. The electronics brand, famous for its headphones and smartwatches, had filed for the IPO confidentially in April.
This is the company's second attempt to go public. Previously, in January 2022, the company filed for a ₹2,000 crore IPO, which included a fresh issue of shares and an offer for sale. This time, reports suggest the Warburg Pincus-backed firm is targeting a valuation of ₹13,000 crore.
Established in 2013 by Aman Gupta and Sameer Mehta, Imagine Marketing has grown its product portfolio to include not only audio gear but also smart wearables, personal grooming products, and mobile accessories.
Imagine Marketing's decision to use the confidential pre-filing route is part of a rising trend among Indian companies. This method offers more flexibility and less pressure, as it extends the deadline to launch the IPO to 18 months after SEBI's final comments, compared to the traditional 12-month window. It also allows for greater flexibility in adjusting the primary issue size. This route has recently been successfully used by other major companies like Swiggy and Vishal Mega Mart.
The leaders highlighted how AI is emerging as a critical enabler in this shift from marketing’s traditional focus on new customers to a more sustainable model of driving growth from existing accounts.
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