boAt looking at IPO in FY25-FY26; definitely not listing this year, says co-founder Aman Gupta
boAt, which had earlier deferred its public share sale plans amid stock market volatility, is «not in a hurry» to go for a listing, and is looking at FY25-FY26 timeframe for the IPO, co-founder Aman Gupta said. In an exclusive chat with PTI on wide-ranging issues, Gupta said that his startup is «well capitalised» for now. There was a phase when startup IPOs were in fashion but then the markets turned choppy, Gupta recounted.
«We don't need to go for an IPO, as such. We can do that after a few years also… So, maybe FY25-FY26 is what we're looking… We're not in a hurry to list,» Gupta said. boAt's listing is «definitely not this year», he added.
The entrepreneur and investor whose stint with Shark Tank India has made him a household name, was among the invitees at an official delegation during Prime Minister Narendra Modi's recently-concluded visit to Paris. At the Indo-French CEO Forum last week, Gupta spoke about the rise of entrepreneurship and changes sweeping the country, as well as the company's own startup story being a testimony to how real the India opportunity is. On whether boAt will look at another round of capital raise before listing, Gupta said while the startup is not in need of funds per se, a lot will depend on how things move, and its own growth ambitions.
«We might look at it depending on where we are, and where our ambitions are… Never say never, but it is not like we need funds,» he said. In October last year, Imagine Marketing, the parent company of audio and wearables brand boAt raised Rs 500 crore from existing shareholder, a Warburg Pincus affiliate, and new investor Malabar Investments. Announcing the fundraise at that time, the company had said the move will fuel expansion into the fast-growing
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