boAt reduces IPO size to Rs 1,500 Cr

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Consumer electronics brand boAt has filed an updated draft red herring prospectus (DRHP) with SEBI, reducing its IPO size to Rs 1,500 crore from the earlier Rs 2,000 crore.

The Rs 1,500 crore IPO includes a fresh issue of equity shares worth Rs 500 crore, while existing shareholders and co-founders will offload shares worth Rs 1,000 crore through an offer for sale (OFS).

According to the DRHP, the OFS will see participation from South Lake Investment (Warburg Pincus), which will offload shares worth Rs 500 crore, accounting for half of the total OFS….



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boAt reduces IPO size to Rs 1,500 Cr


Consumer electronics brand boAt has filed an updated draft red herring prospectus (DRHP) with SEBI, reducing its IPO size to Rs 1,500 crore from the earlier Rs 2,000 crore.

The Rs 1,500 crore IPO includes a fresh issue of equity shares worth Rs 500 crore, while existing shareholders and co-founders will offload shares worth Rs 1,000 crore through an offer for sale (OFS).

According to the DRHP, the OFS will see participation from South Lake Investment (Warburg Pincus), which will offload shares worth Rs 500 crore, accounting for half of the total OFS….



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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