Boult IPO likely next year: Co-founder Varun Gupta

Boult, an Indian tech brand, plans to go public in FY25 with a revenue target of ₹1,000 crore.

Indian consumer tech brand Boult plans to go public next year, with a revenue benchmark of ₹1,000 crore in FY25, as it expands into international markets and new categories, according to its co-founder Varun Gupta.

In an exclusive interview with PTI, Mr. Gupta spoke in detail about his vision to make the Indian company global, listing out the homegrown brand, and his ambitious targets for this fiscal year.

"We are not focusing on IPO this year, our primary focus is to foray into offline markets, international geographies, and new categories, but possibly in the next year," he said.

The young entrepreneur said the company has set an internal touchstone for itself before it goes public.

"... We have an internal benchmark, when we hit a ₹1,000 crore revenue, that's when we want to go for an IPO. Technically, we're eligible to go for an IPO today because we're profitable and comfortably over ₹500 crore. But we have an internal milestone of ₹1,000 crore, and that is when we will consider ourselves eligible for that (IPO)," Mr. Gupta said.

He further said the bootstrapped brand expects to close the financial year 2023-24 at a touchdown of ₹650-700 crore.

"In FY25, we're looking at a ₹1,000 crore target, a very reasonable target because of our foray into new categories, because of our growing presence in our TWS (True Wireless Stereo), which is the biggest category for us. And thirdly, getting offline as a channel and thereby international channels," he said.