Meet Offbeat Studios, Boat founder Aman Gupta's new venture
What's the story
Aman Gupta, the co-founder of consumer electronics brand Boat, has announced his new venture, Offbeat Studios. The announcement comes just months after he took on a non-executive director role on Boat's board. Gupta shared his excitement for the new journey on social media, saying, "I am still hungry, still impatient and still driven."
Leadership shift
Gupta, Sameer Mehta move to executive director roles
Along with Gupta, Sameer Mehta, the co-founder and CEO of Imagine Marketing (Boat's parent company), has also moved to an executive director role. Gaurav Nayyar, the COO of Boat, has taken over as the new CEO. The leadership changes come at a time when Boat was preparing for its initial public offering (IPO), which was later deferred.
IPO delay
Boat's IPO plans delayed
Boat's IPO plans have been delayed amid auditor scrutiny. The company's statutory auditors have flagged mismatches between the quarterly returns or statements it filed with lenders and its books of account. Despite these challenges, Warburg Pincus-backed Boat reported a net profit of over ₹60 crore for 2024-25, compared to a net loss of ₹80 crore in the previous year.