According to the updated prospectus, the company’s initial public offering (IPO) size has reduced to Rs 1,500 crore from Rs 2,000 crore earlier.
The company will raise Rs 500 crore through fresh issue and Rs 1,000 crore through offer-for-sale (OFS). Both cofounders, Aman Gupta and Sameer Mehta, will sell some stake through OFS. Investors South Lake Investment, Fireside Ventures and Qualcomm Ventures will also participate in the OFS.
In April, Boat had filed its draft prospectus under Sebi’s confidential route and received a clearance for its IPO. The pre-filing was approved by Sebi on September 2.
ET had reported in November 2024 that the Gurgaon-based firm had appointed ICICI Securities, Goldman Sachs and Nomura as bankers for its IPO, which it is targeting for fiscal year 2026.