boAt IPO: Founders still own 50% of the company

  • Consumer electronics startup boAt has filed a draft red herring prospectus with SEBI to launch its initial public offer worth Rs 2,000 crore.
  • Both co-founders Aman Gupta and Sameer Mehta will be selling shares worth Rs 150 crore each while early investor Warburg Pincus will offload shares worth Rs 800 crore in the OFS transaction, according to the company’s papers filed with SEBI.
  • The DRHP has also filed restated financials for H1 FY22, showing a profit of Rs 118.3 crore for the six month period. The company recorded revenue of Rs 1,548 crore for H1 FY22, annualising to Rs 3,096 crores.


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