Imagine Marketing, the parent company of electronics brand boAt, has appointed Gaurav Nayyar as its CEO (Chief Executive Officer). The development comes as the company prepares for its upcoming initial public offering (IPO).
Nayyar earlier served as Chief Operating Officer, where he played a central role in steering the company back to profitability after a difficult financial phase. His promotion signals boAt’s focus on operational strength as it prepares to enter public markets.
IPO Plans Progress
boAt has already received regulatory approval for its IPO, which is expected to raise nearly Rs 2,000 crore. The offer will include a fresh issue of Rs 900 crore, and the company’s valuation is estimated to be close to Rs 13,000 crore. If successfully listed, boAt will become India’s first direct-to-consumer electronics brand to go public.
The company believes that public listing will help fuel its next phase of expansion across categories, geographies, and digital channels. Investors are keenly watching how the brand positions itself amid rising market competition.
Founders Redefine Roles
With Nayyar stepping in as CEO, co-founder Sameer Mehta will now transition into the role of Executive Director, where he will focus on long-term strategy and innovation. Meanwhile, Aman Gupta, the other co-founder and popular Shark Tank judge, will continue as a Non-Executive Director.
This shift allows the founders to move away from day-to-day operations while ensuring the company maintains its original vision and agility.
Strong Financial Comeback
The management change follows a powerful financial recovery in FY25. boAt reported a net profit of Rs 60 crore, successfully reversing a loss of Rs 74 crore from the previous year.
The company recorded Rs 3,098 crore in revenue, with India contributing the bulk of sales. Interestingly, international markets grew 44 percent year-on-year, proving that boAt’s global ambitions are starting to take shape, even as certain categories like wearables saw demand fluctuations.
Expansion Vision Ahead
Under Nayyar’s leadership, boAt plans to strengthen its supply chain, expand offline reach, and increase tech-driven product innovation. The company sees strong potential in audio devices, smartwatches, gaming accessories, and fashion-led electronics, all of which are fast-growing categories among young consumers.
Investors believe that with profitability restored and brand loyalty intact, boAt now has the right timing for an IPO, especially as global investors show interest in consumer electronics from India.
boAt Competitors in India
While boAt dominates the affordable audio and wearables segment, it faces tough competition from multiple brands. Noise and Fire-Boltt compete aggressively in the smartwatch and earwear space. Realme, OnePlus, and Xiaomi challenge boAt in budget audio products, while Samsung and Apple lead in premium segments.
However, boAt continues to maintain an edge through youth-focused branding, aggressive pricing, and influencer partnerships, which have helped it remain a lifestyle choice rather than just a gadget brand.
