IPO-bound boAt elevates Gaurav Nayyar as CEO

Imagine Marketing, the parent company of boAt, has elevated Gaurav Nayyar to Chief Executive Officer as the company gears up for its next stage of growth and a public listing.

Nayyar, who previously served as Chief Operating Officer, steps into the CEO role at a time when boAt has returned to profitability and received regulatory clearance for its much-awaited IPO.

Nayyar brings more than two decades of strategic and operational experience, including eight years as a partner at Bain & Company before joining boAt three years ago. Together with the founding team, he has helped drive the company’s operational execution and business performance.

Co-founder Sameer Mehta, who led boAt as CEO in recent years, will now focus on long-term strategy as Executive Director. Co-founder Aman Gupta will retain his role as Non-Executive Director.

The leadership change comes on the back of boAt's strong performance in FY25, as the company posted a net profit of Rs 60 crore compared to a loss of Rs 74 crore in the previous year. This turnaround was driven by cost control, resilient audio product sales, and growth in international markets, despite a contraction in its wearables division. boAt's total revenue for FY25 stood at Rs 3,098 crore, of which India contributed the majority, and international revenue grew 44 percent year on year.

boAt is now set to become the first Indian D2C electronics brand to go public after receiving SEBI’s approval for its IPO. The upcoming public offer is expected to raise Rs 2,000 crore, with a fresh issue component of Rs 900 crore, and places the company’s valuation near Rs 13,000 crore, as per reports.