boAt elevates COO Gaurav Nayyar as CEO

New Delhi, Sep 30 (PTI) Imagine Marketing Limited (IML), the parent company of audio and wearable brand boAt, on Tuesday announced the appointment of Gaurav Nayyar as its new Chief Executive Officer.

He will succeed the company's co-founder Sameer Mehta.

Nayyar, who has served as boAt’s Chief Operating Officer for three years, brings over 20 years of experience, including eight years as a Partner at Bain & Company. He will now lead the company’s efforts to build on its market leadership and expand its product offerings, boAt said in a statement.

Mehta will step into the role of Executive Director, focusing on long-term strategy and supporting Nayyar in his new responsibilities, it added.

Co-Founder Aman Gupta will continue as a Non-Executive Director, maintaining his influence over the brand vision and marketing strategy.

Earlier this year, boAt filed draft papers with market regulator Sebi for an initial public offering (IPO) through a confidential pre-filing route.

However, it clarified that pre-filing the DRHP does not guarantee the company will go ahead with the maiden public offering.

This marks the company's second attempt to go public.

Previously, the company had filed draft papers in January 2022 for a ₹2,000 crore IPO. This comprised a fresh issue of equity shares worth ₹900 crore and an offer for sale (OFS) aggregating up to ₹1,100 crore.