IPO-bound boAt appoints Gaurav Nayyar as CEO

Consumer electronics startup boat’s parent, Imagine Marketing, has promoted COO Gaurav Nayyar to CEO ahead of its planned public listing.

Nayyar, with three years at boAt and prior experience as a partner at Bain & Company, will now lead the startup’s next phase of growth.

Nayyar becomes boAt’s third CEO in three years. In 2023, Vivek Gambhir moved to chairman, and cofounder Sameer Mehta became CEO and MD. 

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Mehta will now serve as executive director focusing on long-term strategy, while cofounder Aman Gupta continues as a non-executive director on the board.

Co-founder Sameer Mehta, the former CEO, will now focus on long-term strategy as Executive Director, while co-founder Aman Gupta continues as Non-Executive Director.

boAt is set to become the first Indian D2C electronics brand to go public after getting SEBI’s approval for its IPO.

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The leadership change comes as boAt prepares for its public listing. The startup recently received SEBI approval for its confidential DRHP and aims to raise around ₹2,000 Cr through its upcoming IPO. 

This will be its second attempt after pausing plans in 2022 due to market volatility, when it had filed a ₹2,000 Cr DRHP, including a ₹900 Cr fresh issue and ₹1,100 Cr OFS.

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