KuberGrow Team Consumer electronics giant boAt Lifestyle is reportedly preparing to file a confidential Draft Red Herring Prospectus (DRHP) as it plans to launch its much-anticipated ₹2,000 crore IPO in FY26, according to CNBC-TV18. The company, a leading player in India’s wearable technology market, may seek a valuation exceeding $1.5 billion, though final figures are yet to be confirmed.
This marks boAt’s second attempt at entering the public market after it initially filed for a ₹2,000 crore IPO in 2022 but later withdrew due to unfavorable market conditions, opting instead to raise $60 million in private funding. The company’s key investors include Qualcomm Ventures, Innoven Capital, Warburg Pincus, and Fireside Ventures.
Founded in 2013, with its flagship brand launching in 2014, boAt holds a dominant 26.7% market share in India’s wearable segment as of Q2 2024. While its audio division remained stable in H2 2024, the company has seen a growing shift toward online sales.
India’s earwear market recorded modest growth of 0.7% year-on-year in Q2 2024, reaching 20.1 million units. However, the True Wireless Stereo (TWS) segment surged 9.1%, hitting an all-time high market share of 71%, up from 65.5% in the previous year, according to IDC.
Co-founded by Aman Gupta (CMO) and Sameer Mehta (CEO), boAt has rapidly expanded in the consumer tech space. With its renewed IPO ambitions, the company aims to strengthen its foothold in the growing wearables market while capitalizing on India’s increasing demand for premium audio and lifestyle products. As boAt gears up for its next big financial move, investors will be watching closely to see if the company can make a successful transition to the public market.
