3
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….
