boAt Unlisted Share Price

boAt Share Price Description – Imagine Marketing, the parent company of boAt, is a digital-first consumer products firm and ranks among the largest Indian digital-first brands by revenue. Founded in 2013, the company has steadily built a portfolio of high-quality lifestyle products designed to be affordable and accessible to a wide range of consumers.

At the core of this success is boAt, which has maintained the number one position in India’s wireless wearables market by both value and volume. It also holds the second spot in smartwatch sales by volume. Moreover, the company’s market share in both wireless wearables and smartwatches has steadily increased over time.

These products are recognized for their strong consumer appeal and their potential to drive disruption across the industry.

Imagine Marketing Brand Portfolio

Imagine Marketing primarily operates through its flagship brand, boAt, offering stylish and affordable audio wearables. The company also owns RedGear, focusing on gaming accessories such as headsets and keyboards. Known as a digital-first lifestyle brand, Imagine Marketing targets young, trend-conscious consumers with fast-growing product categories like hearables and wearables, making it one of India’s leading consumer electronics companies in revenue and market presence.

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Products & Services

boAt began by focusing on audio wearables, establishing itself as a leader in the category. According to boAt’s official website, the company offers a wide and varied range of consumer electronics and accessories, including:

• True wireless earbuds
• Wireless headphones and neckbands
• Wired headphones and earphones
• Wireless speakers, soundbars, and home audio systems
• Smartwatches (including fitness- and sports-focused models)
• Mobile and power accessories like chargers, power banks, and cables
• Specialized series such as Gaming, Party, TRebel, Nirvana, and boAt Tag (Find‑My‑Device tracker)

boAt Unlisted Share: Offline vs Online Sales

In FY 2025, boAt experienced a notable shift in its sales dynamics, with offline sales growth surpassing online sales for the first time. Here’s a detailed comparison of the two channels:

Online Sales

Historically, boAt’s primary sales channel has been online, driven by its digital-first, direct-to-consumer (D2C) strategy across platforms such as Amazon, Flipkart, and its own website.
By FY25, online channels continued to contribute the majority of revenues; however, growth moderated during the year. The company faced pressure in the online audio category due to intense price competition, category saturation, and increased discounting across e-commerce platforms. While online sales remained critical for scale and reach, incremental growth was relatively limited compared to offline channels.

Offline Sales

• In FY25, offline sales emerged as a key growth driver for boAt. Following a post-pandemic shift in consumer purchasing behaviour, offline channels contributed approximately 30–35% of total revenues, marking a significant increase in share.
• The company accelerated its omnichannel expansion through strategic partnerships with large-format retailers such as Reliance Digital and Croma, expanding its presence to 900+ retail outlets across Tier 1 and Tier 2 cities.
• During FY25, offline sales growth significantly outpaced online growth, with industry estimates indicating 40%+ year-on-year growth, reflecting stronger in-store demand, wider physical availability, and improved brand visibility.

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Comparative Snapshot

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Key Highlights

• boAt has planned an INR 1,500 crore IPO, comprising an INR 500 crore fresh issue and a INR 1,000 crore OFS. The IPO is being managed by ICICI Securities. The company filed its updated draft offer documents with SEBI on 9 April 2025, and received regulatory approval on 1 August 2025.
• BoAt reported a revenue decrease from INR 3,118 crore in FY 2024 to INR 3,073 crore in FY 2025, marking a 1.42% decline overall. The ratio fell from 0.37 to 0.09, reflecting minimal leverage. This suggests the company is financially robust and nearly debt-free.
• boAt’s net profit surged to INR 61.08 crore in FY 2025, compared to a loss of INR 79.68 crore in FY 2024.
• ROCE improved from -0.60% to 9.13%, signaling a turnaround to positive returns on capital and highlighting stronger efficiency and profitability.
• Despite the challenges, boAt remains a leading player in both audio devices and wearables, holding substantial market shares of 33% to 36.8% in audio devices and 26.7% to 28% in wearables, and 27.3% to 31.9% in the earwear segment as of late-2024.
• Draft Red Herring Prospectus (DRHP) files in January 2022.

Imagine Marketing’s Subsidiary Companies

1. Dive Marketing
2. Imagine Marketing Singapore
3. HOB Ventures
4. KAHA Technologies
5. KAHA Pte
6. KAHA Technology (ShenZhen)
7. Califonix Tech and Manufacturing

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boAt Board of Directors

• Vivek Gambhir, Non-Executive Director, Chairman
• Sameer Mehta, Executive Director
• Aman Gupta, Non-Executive Director (Additional)
• Anish Ashraf, Non-Executive Director
• Purvi Seth, Non-Executive Independent Director
• Aashish Kamat, Non-Executive Independent Director
• Anand Ramamoorthy, Non-Executive Independent Director
• Deven Waghani, Non-Executive Independent Director

boAt Unlisted Share Price Details

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boAt Unlisted Share Price Details – Shareholding Pattern

Details of shareholders holding more than 1% of the shares in the company as of 31 March 2025:

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boAt Unlisted Share Price Details – Financial Metrics

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boAt Unlisted Share Price – Peer Comparison

boAt Annual Reports

boAt IPO UDRHP
boAt Annual Report FY 2023 – 2024
boAt Annual Report FY 2022 – 2023
boAt IPO DRHP Jan 2022

Imagine Marketing Unlisted Share Price FAQs