boAt co-founder Aman Gupta has stirred speculation after sharing a cryptic post online, just as the audio electronics brand undergoes significant leadership changes ahead of its long-awaited IPO. Gupta and CEO Sameer Mehta have stepped away from their executive roles and reports suggest boAt has scaled down its initial public offering.
Gupta chose to ignore online chhater
Amid the chatter, Gupta posted on LinkedIn, “Rumours, narratives, expert comments, sab chal raha hai. For now, I am just sitting back enjoying the show.” His comment, coming only about a month before the company filed for its IPO, immediately caught attention. Many questioned the timing, reading it as a response to the speculation swirling around boAt’s leadership shake-up.
Gupta further dismissed the buzz by likening the noise to “birds chirping” and “monkeys doing circus”. “Birds chirp. Monkeys do circus. But, the Tiger walks in silence,” he posted on LinkedIn along with his photo.
IPO incoming
As per boAt’s Draft Red Herring Prospectus (DRHP), both Gupta and Mehta have resigned from their roles as Chief Marketing Officer and Chief Executive Officer, respectively. They will, however, continue as non-executive directors. The IPO structure includes a Rs 1,000 crore offer-for-sale (OFS) and a Rs 500 crore fresh issue.
