BoAt parent files DRHP to SEBI for Rs 2,000 crore IPO
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The company was established in 2016.
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In this IPO of Rs 2000 crores, there is a fresh issue of Rs 900 crores and there is an offer for sale of 1100 crores.
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In the OFS of 1100 crores, South Lake Investment limited will sell shares worth 800 crores.
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And the same founders Aman Gupta and Sameer Mehta will also sell shares worth 150 crores each (total 300 crores).
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The company’s founders Sameer Mehta and Aman Gupta both currently own a 28.26% stake each.
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The BoAt has established a leading market position in the high growth consumer category such as audio and wearable.
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In 2021, 96.01% of the company’s total revenue came from the audio category and 3.99% from the other category.
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At the same time, the revenue contribution of the wearable segment has reduced from 14.05% in 2019 to almost negligible in 2021.
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The maturity portion of the company’s sales comes from online marketplaces such as e-commerce platforms and BoAt’s own website.
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The online marketplace accounted for 85.84% of the company’s total sales in 2021.
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