Indian consumer tech brand Boult plans to go public next year, with a revenue benchmark of Rs 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, 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 Rs 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 Rs 500 crore. But we have an internal milestone of Rs 1,000 crore, and that is when we will consider ourselves eligible for that (IPO),” Gupta said. He further said the bootstrapped brand expects to close the financial year 2023-24 at a touchdown of Rs 650-700 crore.
“In FY25, we’re looking at a Rs 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.
Boult recently launched a new category — Soundbars, to further diversify market offerings.
The homegrown company, which has peers like boAt and Noise, expanded its reach to offline retail stores around October last year.
The idea is to be accessible and available at 20,000 points of sale within the country for the customers to get access, availability, and credibility, Gupta said, because when a customer sees the product in an offline store he gets a lot of credibility.
“We’re proud of the fact that we have penetrated every state in India, we are live at over 4,000 points of sales.”
Marking its debut globally, Boult tapped into the US and UK markets in May 2023, and in January 2024, it set foot in Nepal. It received great responses from all the geographies, the young entrepreneur said.
“Right from the beginning, our vision was to make in India, for the world. We wanted to make a global brand out of India, to change the worldwide narrative of India by creating a top technology brand, and to make the nation proud. The plan forward is to foray into Europe, Australia, and thereafter Africa as well,” he said.
