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Indian audio and wearables brand boAt files for $267m IPO

Company among the top-selling headphone, smartwatch brands in India

Imagine Marketing, owner of boAt, received an equity investment from Qualcomm Ventures last April. (Photo by Yuki Kohara) 

NEW DELHI -- Private equity major Warburg Pincus-backed Imagine Marketing, which owns the audio and wearables brand boAt, has filed a draft red herring prospectus (DRHP) with market regulator the Securities and Exchange Board of India to raise 20 billion rupees ($267 million) through an initial public offering.

According to the DRHP filed on Thursday, the company's IPO will comprise a fresh issue of shares of up to 9 billion rupees and an offer for sale (OFS) worth 11 billion rupees.

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