Boat set to float Rs 2,000-crore IPO,
eyes $1.5-2 billion valuation
Boat is set to file a draft red herring prospectus for a Rs 2,000-crore initial public offering with the Securities and Exchange Board of India (Sebi) this week.
based company is expected to seek a valuation of $1.5-2 billion in the IPO to be floated this year, people aware of the matter told ET.
Warburg Pincus will divest shares worth Rs 700-800 crore in the Boat IPO, likely to be an equal mix of fresh stock and an offer for sale
Boat was last valued at around Rs 2,200 crore when it raised Rs 50 crore from Qualcomm Ventures in April last year.
Boat’s parent Imagine Marketing Pvt. Ltd has converted into a public company to facilitate the IPO and its board has approved the plan to launch the IPO.
Boat and Mamaearth are among the first set of D2C brands that started online-only and are now expanding their presence through offline channels as well.
VISIT OUR WEBSITE FOR MORE UPDATE