boAt parent files for IPO, sets valuation of over $1.5 billion: Report

Imagine Marketing, the parent of audiotech brand boAt, has reportedly filed draft documents for its initial public offering with the Securities and Exchange Board of India (SEBI). The filing was made through a confidential route, which allows companies to delay disclosure of details, said a media report.

The company reportedly stated stated that filing a pre-filed draft red herring prospectus with SEBI doesn’t mean that it will undertake the IPO.

Back in November, media reports said that boat had enlisted ICICI Securities, Goldman Sachs and Nomura as the bankers for a $300-500 million IPO.

The company will target a valuation of over $1.5 billion, which may be changed closer to the filing, according to the media report.