IPO Alert: SEBI Approves Confidential DRHP of boAt Parent Imagine Marketing

Electronics brand boAt has moved a step closer to going public as its parent, Imagine Marketing, secured approval from SEBI for a confidential IPO filing. Known for products like headphones and smart watches, the company is now aiming for a sizeable ₹13,000 crore valuation, according to news reports.

Second Attempt At The Bourses

This is not Imagine Marketing’s first try at the markets. Back in January 2022, the firm had filed draft papers for a ₹2,000-crore listing plan, which included a ₹900 crore fresh issue of equity shares and an ₹1,100 crore offer for sale. 

The latest move underlines renewed intent as the company looks to capitalise on its strong consumer brand and expand further. Established in 2013 by Aman Gupta and Sameer Mehta, Imagine Marketing has built a diverse portfolio covering audio gear, wearables, personal grooming devices and mobile accessories.

Confidential Route Gains Traction

The firm’s decision to use the confidential pre-filing route aligns with a growing trend among Indian companies. The mechanism allows more flexibility compared with the traditional filing process, which requires an IPO to be launched within 12 months of SEBI’s clearance. 

Under the pre-filing method, companies have up to 18 months to proceed after SEBI’s final comments and can revise the issue size by as much as 50% until the UDRHP stage. Market watchers point out that this approach eases the pressure of immediate listing. In 2024, Swiggy and Vishal Mega Mart both floated IPOs successfully after using this route.

Read More: Jio IPO Could Double Returns for Meta, Google and Global Investors!

Conclusion

With SEBI’s nod in place, boAt parent Imagine Marketing now joins a growing list of firms opting for confidential filings to balance flexibility and market timing. The Warburg Pincus-backed company’s pursuit of a ₹13,000 crore valuation shows its ambition, marking a crucial step in its journey towards the public markets.

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