Boat has appointed ICICI Securities, Goldman Sachs, and Nomura as bankers for its upcoming $300-500 million IPO, aiming for a valuation above $1.5 billion. Despite a 5% revenue dip to Rs 3,285 crore for FY24, the company halved its losses to Rs 70.8 crore and reported positive EBITDA, benefiting from a sales boost during the Diwali season. Founded in 2015, Boat holds a 26.7% market share in India's wearables segment.
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