| Question | Answer |
|---|---|
| Where was the brand created? | India |
| Where is the company registered and based? | India (Mumbai) |
| Who founded it? | Aman Gupta and Sameer Mehta |
| Is there foreign ownership? | Yes. A Warburg Pincus-backed fund is the largest single shareholder, and Qualcomm Ventures holds a small stake |
boAt: the history in brief
| Year | What happened |
|---|---|
| 2013 | Imagine Marketing is incorporated in November. |
| 2015 | The company launches the boAt brand. |
| April 2025 | Imagine Marketing files draft IPO papers with SEBI through the confidential route. |
| August 2025 | SEBI approves the IPO on 1 August. The planned issue is ₹1,500 crore: ₹500 crore of new shares and ₹1,000 crore sold by existing shareholders. |
| October 2026 | No IPO dates had been announced on the listing tracker we checked on 11 October 2026. |
Who owns boAt
The IPO papers give a clear picture of who owns Imagine Marketing. Before the offer, on a fully diluted basis, the main shareholders were:
| Shareholder | Stake before the IPO |
|---|---|
| South Lake Investment (backed by Warburg Pincus) | 39.35% |
| Aman Gupta, co-founder | 24.76% |
| Sameer Mehta, co-founder | 24.75% |
| Fireside Ventures Investment Fund-I | 3.28% |
| Qualcomm Ventures LLC | 2.28% |
| Malabar Select Fund | 1.20% |
The two founders together hold 49.51%, slightly less than half. South Lake Investment is the largest single shareholder and is named as a promoter alongside the founders. These percentages will change if the IPO goes ahead, because existing shareholders plan to sell part of their holdings.
Is boAt a Chinese company?
No. This is a common question because many electronics brands sold in India are Chinese. boAt is not one of them. The brand was created in India, and the company that owns it is registered in India and run from Mumbai by its Indian founders.
Where a product is designed or assembled is a separate matter from who owns the brand. We have not found a company filing that sets out where each boAt product is manufactured, so this article does not make a claim about that.
What boAt sells
Imagine Marketing describes itself as a digital-first consumer products company. Under the boAt name it sells audio products such as earphones, headphones and speakers, along with wearables, gaming accessories, personal care products and mobile accessories.
For the year to March 2025 it reported total income of ₹3,097.81 crore and a profit after tax of ₹61.08 crore.
Frequently asked questions
Is boAt an Indian company?
Yes. boAt is a brand of Imagine Marketing Limited, which was incorporated in India in 2013 and is based in Mumbai.
Who is the owner of boAt?
Imagine Marketing Limited owns the brand. Its co-founders, Aman Gupta and Sameer Mehta, held about 24.8% each before the planned IPO, and South Lake Investment, a Warburg Pincus-backed fund, held 39.35%.
Is boAt a Chinese brand?
No. It is an Indian brand owned by an Indian company.
Is boAt listed on the stock market?
Not when we last checked, on 11 October 2026. SEBI approved the company's IPO on 1 August 2025, but no issue or listing dates had been announced.
Sources
- boAt IPO UDRHP: full breakdown of issue size, financials, shareholding and growth plans, IPO Central. ipocentral.in. Accessed 11 October 2026. Founding, shareholding before the offer, filing and approval dates, and issue size. Secondary summary of the draft prospectus.
- Imagine Marketing (boAt) IPO details, Chittorgarh.com. chittorgarh.com. Accessed 11 October 2026. Incorporation month, address, promoters, product lines, financials and IPO status. Secondary source.
