boAt IPO: World’s fifth-largest wearable brand plans Rs 3,500 crore offer
Zee News
The IPO could value at boAt Lifestyle about $1.5 billion.
New Delhi: Delhi NCR-based boAt Lifestyle, which is one of the largest wearable brands in the world, is reportedly planning to float its initial public offering (IPO). With its initial offer, the brand is planning to mop up about Rs 3000 to Rs 3500 crore. The IPO could value the consumer electronics brand at about $1.5 billion, according to a report by Economic Times, which also pointed out that the management of the company has initiated discussions with investment bankers. The mandate for the IPO is likely to be signed in a couple of weeks. The exact details of the primary and secondary shares, that will be sold as part of the IPO, aren’t out yet.
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Regarding the recent technical glitches at the National Securities Depository Limited (NSDL), the Chairman confirmed that the system is now functioning normally. He explained that a technical issue in the inter-depository transfer system led to settlement backlogs, which were cleared by the weekend.