BoAt is the leading earphone and mobile accessories manufacturer in India. In a chain of events to maintain its dominance in India’s competitive accessories and wearables market, Imagine Marketing Services Pvt Ltd (legal name of BoAt) has taken crucial steps in the dawn of 2023. The company has significantly improved its product line and is committed to establishing higher quality standards. Moreover, BoAt has taken a critical approach towards redefining its workforce to bring out the best of the human resource potential.
Imagine Marketing Services reportedly added 110 new employees to the company. It has added new positions in the last year and hired recruits. Furthermore, the company has limited the responsibilities of leading directors and founders, allowing them to focus more on their designations. The recent events exhibit the company’s perspective of prioritising quality.
Lately, the company has made significant changes in its upper management that captured our curiosity. In a time when the market conditions are volatile and uncertain, it becomes fascinating to speculate what intentions BoAt aims to serve through this adjustment. Let’s dive deep into what has changed and the potential reasons for it.
What Has Changed In BoAt’s Top Management?
The table below depicts the earlier roles of BoAt’s directors and executive officers.
|Sameer Mehta||Chairman,Executive Director,Chief Product Officer|
|Aman Gupta||Executive Director,Chief Marketing Officer|
|Vivek Gambhir||Chief Executive Officer,Executive Director|
|Anish Saraf||Non-Executive Director|
|Purvi Sheth||Non-Executive Independent Director|
|Aashish Kamat||Non-Executive Independent Director|
|Anand Ramamoorthy||Non-Executive Independent Director|
|Deven Waghani||Non-Executive Independent Director|
However, BoAt announced a significant shuffle in its top management on 16 March, Thursday, stating that Vivek Gambhir will be the chairman of Imagine Marketing Pvt Ltd. The announcement added that Sameer Mehta would lead the company as the Chief Executive Officer.
Vivek Gambhir As The New Chairman of Imagine Pvt Ltd
Vivek Gambhir is to focus on leading management teams on subjects like strategy and organisation development to maintain a growth culture and achieve future objectives. Let’s see what Vivek had to say about his new designation.
“I am very grateful to Sameer and Aman for the opportunity to partner with them to help make boAt better and stronger. Over the last several years, with the support of our top-notch management team which we have built together, we have taken tremendous strides to strengthen the foundations of the company.
Along with working closely with Aman & Sameer and the Board to guide the next phase of the company’s development, I look forward to engaging in a portfolio of activities on the business and social development front to help multiple organisations scale up, build their teams, and accelerate their value creation agendas.”
- Vivek Gambhir, Chairman, Imagine Marketing Pvt Ltd
Aman Gupta expressed his gratitude and elaborated on what he and the company have benefited from working with Vivek.
“We are incredibly thankful to Vivek for his friendship and partnership over the last several years. We have learnt a lot from his inspirational leadership, strong sense of values and strategic thinking. BoAt today is in a much stronger position, and we firmly believe that our best days are ahead of us.”
- Aman Gupta, Co-Founder & Chief Executive Director, Imagine Marketing Pvt Ltd
Sameer Mehta To Lead BoAt As The CEO And Managing Director (MD)
Imagine Marketing Pvt Ltd announced that Sameer Mehta would be the new Chief Executive Officer and Managing Director of the company. When Sameer Mehta talked about the new designation, he appeared pleased with the journey and the company’s performance in recent years.
“We have scaled up tremendously over the last several years and it has been amazing to have Vivek as a valued partner in our growth journey. In early 2021, we had approached Vivek to join and guide us in our scaling up journey and prepare us to think and act like a bigger company rather than as a start-up.
We are deeply grateful to Vivek for his partnership, inspirational leadership, strong values, and friendship. And we look forward to his continued support as we chart the next phase of our transformation.”
- Sameer Mehta, CEO, and Managing Director, Imagine Marketing Pvt Ltd
How Could This Define BoAt Share Price & IPO?
BoAt is registered as Imagine Marketing Pvt Ltd, with an authorised share capital of Rs. 299,728,000. Imagine Marketing Ltd submitted a Draft Red Herring Prospectus for an Initial Public Offering of Rs 200 billion. Therefore, the company is looking to improve its performance before the public offering.
The recent developments have been received with positive sentiments by market experts. It is more likely that the company’s improved performance will see a surge in BoAt share price, making them expensive in bidding. Given the company’s incredible performance and leading position in the industry, investing in BoAt unlisted shares is advisable before the IPO. It is because the price of its unlisted shares is comparably low, and investing now can avail significant returns.
Invest In BoAt Unlisted Shares On Stockify
BoAt unlisted shares are actively traded in the grey market and currently hold a face value of Rs. 785. The Pre-IPO shares are similar to those listed on stock exchanges in the context that they keep fluctuating. That is why Stockify regularly updates the share price and market indicators such as EBITDA growth, book value and price-to-share ratio.
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