Boat Gears Up for $300-500 Million IPO Next Year

• Boat has finalized ICICI Securities, Goldman Sachs, and Nomura as bankers for its $300-500 million IPO next year, aiming for a valuation over $1.5 billion.
• The company had paused its 2022 IPO plans due to market conditions but raised $60 million in private capital instead.
• Despite a 5% revenue drop in FY24, Boat's recent Diwali sales boost and strategic initiatives are expected to improve profitability in FY25.

Source: The Economic Times, The Economic Times