The company will use proceeds from the fresh issue towards payment of debt.
The payment of debt will assist the company in maintaining a favourable debt to equity ratio and enable the utilisation of its internal accruals for further investment in business growth and expansion.
Founded in 2013 and led by its flagship brand \"BoAt\" launched in 2014, the company has established leading market positions in volume and value terms in India across multiple, high-growth consumer categories such as audio and smartwatches as of September 30, 2021.
The company has demonstrated a track record of rapid and sustainable growth, having grown its operating revenue at a CAGR of 141 per cent from FY19 to FY21 while maintaining profitability.
Axis Capital Limited<\/a>, BofA Securities India Limited<\/a>, Credit Suisse Securities<\/a> (India) Private Limited and ICICI Securities<\/a> are the book running lead managers.<\/body>","next_sibling":[{"msid":89153988,"title":"Microsoft launches skilling initiative for SMBs in India","entity_type":"ARTICLE","link":"\/news\/microsoft-launches-skilling-initiative-for-smbs-in-india\/89153988","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":89154176,"entity_type":"ARTICLE","title":"BoAt-owner Imagine Marketing files papers for Rs 2,000-cr IPO","synopsis":"The payment of debt will assist the company in maintaining a favourable debt to equity ratio and enable the utilisation of its internal accruals for further investment in business growth and expansion.","titleseo":"telecomnews\/boat-owner-imagine-marketing-files-papers-for-rs-2000-cr-ipo","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":183,"shares":0,"engagementtimems":874000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2022-01-27 14:54:56","lastupd":"2022-01-27 15:02:52","breadcrumbTags":["boat","devices","IPO","DRHP","Axis Capital Limited","BofA Securities India Limited","Credit Suisse Securities","ICICI Securities","sebi"],"secinfo":{"seolocation":"telecomnews\/boat-owner-imagine-marketing-files-papers-for-rs-2000-cr-ipo"}}" data-news_link="//www.iser-br.com/news/boat-owner-imagine-marketing-files-papers-for-rs-2000-cr-ipo/89154176">