boAt Share Price – Buy Sell Imagine Marketing Pre IPO shares

boAt share priceBoat’s parent company, Imagine Marketing, is a digital-first consumer products firm that will be one of the leading digital-first brands in India. The company seek to identify fast-growing, lifestyle-oriented product categories with high consumer engagement and large market opportunities and disrupt the incumbent industry landscape. Call us for boAt share price, live best rates, two way quotes, ipo details.

It was created in 2013, and its flagship brand “boAt” was introduced in 2014. It has a wide range of items. The flagship brand “Boat” has gained market leadership in India in both volume and value across a number of high-growth consumer categories, including audio and wearables.

boAt is the fifth-largest wearables brand globally. In India, boAt competes with brands such as OnePlus, Samsung, Realme, JBL, Bose and Palred (Ptron).

Its portfolio includes products under its flagship “boAt” brand, as well as under other brands such as “RedGear” – its value-oriented gaming accessories brand; “TAGG” – its premium audio and wearables brand; “Misfit” – its personal care and grooming sub-brand; and “DEFY” – its value-oriented audio brand.

For buying selling unlisted Pre IPO stocks of boAt (Imagine Marketing) at best rates, please call Dharawat Securities on 8108303330. Current boAt share price buy sell rate is Rs 1200 – 1250 as per quantity. 

The BoAt brand has witnessed a meteoric rise since inception. As of September 2021, the company held a market share of 48% and 23% in India’s branded wireless hearables and smartwatch segments respectively.

Company website https://www.boat-lifestyle.com

Financials 

As of September 30, 2021, for the second quarter of Financial Year 2022, Imagine Marketing ranked #1 in India among the wireless hearables brands by value and volume and #2 among smartwatch brands in India in terms of volume. Moreover, its market share in both wireless hearables and smartwatch segments has consistently increased over time, and for the quarter ended September 30, 2021, it had a market share of 48% and 23% in terms of volume, and 30% and 13% by value, in the branded wireless hearables and smartwatch markets, respectively.

In FY21, boAt  posted INR 1,313.7 Cr in earnings from operations, as compared to INR 609 Cr in FY20. The startup’s expense rose to INR 1,202.1 Cr in FY21, from INR 544.7 Cr in FY20. In the last financial year the startup posted a total profit after tax of INR 86.5 Cr, a sharp rise from INR 47.7 Cr.

Joint Venture, acquisition, funding updates

Boat recently signed a 50-50 joint venture with electronics manufacturer Dixon Technologies Ltd. to make its wireless audio products locally, moving away from China.

Boat has also acquired Singapore’s KaHa Pte Ltd, an end-to-end smart IoT product development company. The deal is worth around Rs 300-400 crore.

boAt, operated by Imagine Marketing Pvt Ltd, had raised nearly Rs 750 crore ($100 million) from the US-based Warburg Pincus early this year. Qualcomm Ventures invested Rs 50 crore in April at a valuation of Rs 2,200 crore. In 2019, boAt received Rs 20 crore as venture debt from BAC Acquisitions, cofounded by the Flipkart founder Sachin Bansal.

In April, boAt had partnered with 6 Indian Premier League (IPL) teams as their official audio partner. boAt’s brand ambassadors include KL Rahul, Rishabh Pant, Hardik Pandya, Shikhar Dhawan, Prithvi Shaw and Mayank Agarwal.

IPO Offer

Delhi-based earphones headphones maker boAt which is operated by Imagine Marketing Limited has filed INR 2,000 crore DRHP with the market regulator SEBI. The D2C brand’s offer consists of INR 900 Cr of fresh issue of shares, and upto INR 1,100 Cr for offer-for-sale. In its IPO this year, Boat is projected to seek a valuation of $1.5-2 billion.

As per the DRHP documents, founders Aman Gupta, and Sameer Mehta will be offloading shares upto INR 150 Cr both. Among investors, South Lake Investment LTD will be offloading upto INR 800 Cr during the IPO.

The DRHP documents further revealed that Boat, one of the largest direct-to-consumer, audio-focused electronics brands in India, may further consider a pre-IPO round. The startup in consultation with Book Running Lead Managers (BRLMs) likely to raise upto INR 180 Cr as pre-IPO placements.

In terms of shareholding pattern, both the founders Sameer Mehta, and Aman Gupta hold 28.26% of equity share capital on a fully diluted basis. This means, both the founders hold a total of 56.52% in the company. South Lake is the third largest shareholder with 36.48% in the D2C brand, followed by Fireside with 3.76% and Qualcomm with 2.60% stake.

boAt is likely to be the second Indian startup company heading for an IPO where the promoters hold more than 50% stake, thus giving them the control of the company.

As per the documents, the startup intends to utilise the net proceeds of the IPO for repayment/ prepayment, in full or part, of certain borrowings and for general corporate purpose.

Outlook

boAt electronics share price is likely to rise as the company has an attractive offering of wide-ranging, high-quality and aspirational lifestyle-focused consumer products at accessible price points, under its brands.
Wearables is a big part of focus for the company as it looks to widen its offerings under the brand. Within a year of launching the business, Boat said it is among the top two players in the sector with a 20% market share. According to the company, the wearables market in India is expected to grow more than 10 times $2-4 billion by 2025 compared to $200 million in 2018.
The consumer electronics brand enjoys leading market positions in volume and value terms in India across multiple, high-growth consumer categories such as audio and smartwatch.
Increasing trend of customer spend on smart hearables and wearables augurs well for boAt shares. Going forward, the company has strategies to expand into international markets, continue to invest in building its brands including its flagship brand “boAt”, and diversify its supplier and contract manufacturer network.

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