Consumer tech brand Boult to go public next year, says co-founder Varun Gupta

livemint.com:

₹1,000 crore in the fiscal year 2024-25. This decision comes alongside the brand's expansion into international markets and the exploration of new product categories, Varun Gupta, one of its co-founders, told news agency PTI in an interview. Gupta further revealed the details about his vision to make the Indian company global, listing out the homegrown brand, and his ambitious targets for this fiscal year.

Also read: Q4 results: Tata Chemicals, Adani Enterprises, IOC, Titan among 211 companies to declare earnings this week "We are not focusing on IPO this year, our primary focus is to foray into offline markets, international geographies, and new categories, but possibly in the next year," he said. The youthful entrepreneur mentioned that the company has established an internal benchmark for itself prior to its public debut. "...

We have an internal benchmark, when we hit a ₹1,000 crore revenue, that's when we want to go for an IPO. Technically, we're eligible to go for an IPO today because we're profitable and comfortably over ₹500 crore. But we have an internal milestone of ₹1,000 crore, and that is when we will consider ourselves eligible for that (IPO)," Gupta said.

Additionally, he indicated that the bootstrapped brand anticipates concluding the financial year 2023-24 with revenues ranging between ₹650 crore and ₹700 crore. "In FY25, we're looking at a ₹1,000 crore target, a very reasonable target because of our foray into new categories, because of our growing presence in our TWS (True Wireless Stereo), which is the biggest category for us. And thirdly, getting offline as a channel and thereby international channels," he said.