boAt downsizes IPO to ₹1,500 crore from ₹2,000 crore

Business Oct 29, 2025

boAt, the popular audio and wearables brand, has downsized its IPO from ₹2,000 crore to ₹1,500 crore.
The new plan includes a fresh issue of ₹500 crore and an offer for sale (OFS) of ₹1,000 crore.
Big investor South Lake Investment (Warburg Pincus) is set to sell shares worth ₹500 crore as part of the deal.

Co-founders Gupta, Mehta to offload shares worth ₹300 crore

Co-founders Aman Gupta and Sameer Mehta are also joining in—Gupta will sell shares worth ₹225 crore and Mehta will offload ₹75 crore.
This comes as boAt reported a strong turnaround: revenue hit ₹3,073 crore and net profit reached ₹61 crore in FY25, bouncing back from last year's loss.