boAt pulls back IPO plan, secures $60M from existing investors

The fresh infusion of money will be used to ramp up the smartwatches category and expand manufacturing facilities in India.

The company also withdrew its Rs 2000 crore-initial public offering (IPO) plan, citing choppy market conditions. It joins the list of several other startups including FirstCryPharmeasy, and Droom Technologies that have postponed listing plans this year.

[Via]

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