Bank of Baroda Launches ‘bob Square Drive Deposit Scheme’ Offering Up to 7.80% Interest

Bank of Baroda has launched a new fixed deposit scheme — the ‘bob Square Drive Deposit Scheme’, offering interest rates of up to 7.80% per annum for a special tenure of 444 days. The scheme is available from April 7, 2025, and applies to retail deposits below ₹3 crore.

Under the scheme, general citizens will receive an interest rate of 7.15% p.a., while senior citizens and super senior citizens (aged 80+) can earn 7.65% p.a. and 7.75% p.a., respectively. For non-callable deposits, which do not allow premature withdrawal, the interest rate increases further — offering up to 7.80% p.a. depending on the age group.

Callable vs Non-Callable Options

The deposit scheme is available in both callable and non-callable formats for deposits above ₹1 crore and below ₹3 crore.

  • Callable deposits: Allow premature withdrawal before maturity, but typically come with slightly lower interest rates.
  • Non-callable deposits: Do not allow early withdrawal but provide higher interest rates in exchange for the commitment to hold the funds for the full tenure.

Under the non-callable option:

  • Senior Citizens earn 7.70% p.a.
  • Super Senior Citizens earn 7.80% p.a.

Digital Onboarding and Executive Remarks

The deposit can be opened conveniently through Bank of Baroda’s digital platforms, including the bob World app, Internet Banking, or by visiting any of the bank’s physical branches. Additionally, new customers can open fixed deposits via video KYC through the bank’s website, without the need to open a savings account.

Commenting on the launch, Beena Vaheed, Executive Director at Bank of Baroda, said “With interest rates trending downwards, the scheme offers an opportunity to lock in higher rates and earn stable and assured returns.”

Conclusion 

The ‘bob Square Drive Deposit Scheme offers a timely opportunity for investors to secure attractive returns amid a softening interest rate environment. With flexible options, enhanced rates for senior citizens, and easy digital access, Bank of Baroda aims to meet diverse customer needs while promoting financial stability through assured, long-term savings backed by convenience and higher yields.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

FDI Rule Eased: Govt Allows Bonus Shares to Existing Foreign Investors in Prohibited Sectors

The Indian government has allowed companies operating in sectors where foreign direct investment (FDI) is prohibited to issue bonus shares to existing foreign shareholders, provided there is no change in the shareholding pattern post-issuance.

This move, announced by the Department for Promotion of Industry and Internal Trade (DPIIT), aims to clarify and facilitate operations for companies operating in such sectors.

According to DPIIT, the issuance of bonus shares must comply with all applicable rules, laws, regulations, and guidelines. “An Indian company engaged in a sector/activity prohibited for FDI is permitted to issue bonus shares to its pre-existing non-resident shareholders, provided that the shareholding pattern of the non-resident shareholder does not change under the issuance of bonus shares,” the department said in a clarification inserted into the FDI policy.

FDI Framework and Prohibited Sectors

FDI in India is permitted through two main routes: the automatic route and the government approval route. Under the automatic route, investors are only required to inform the Reserve Bank of India (RBI) post-investment. In contrast, the government route mandates prior approval from the relevant ministry or department.

While FDI is allowed in most sectors under the automatic route, some sectors like telecom, media, pharmaceuticals, and insurance require government clearance. However, in certain sensitive areas, foreign investment is completely banned.

These prohibited sectors include the lottery business, gambling and betting, chit funds, nidhi companies, real estate business (excluding construction development), and the manufacturing of cigars, cheroots, cigarillos, and cigarettes containing tobacco.

FDI plays a crucial role in India’s economic growth, particularly in infrastructure development. It also supports balance of payments stability and helps in maintaining the rupee’s value.

Conclusion 

In conclusion, the DPIIT’s clarification marks a significant regulatory relief for companies in FDI-prohibited sectors, enabling them to issue bonus shares without altering foreign shareholding.

This move not only ensures compliance and shareholder parity but also boosts investor confidence by simplifying corporate procedures and affirming the validity of past actions taken under similar circumstances.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Tata Motors Shares in Focus as JLR Evaluates Response to New US Tariffs

Shares of Tata Motors are expected to remain in focus on Wednesday, April 9, after the company clarified that its UK-based subsidiary, Jaguar Land Rover (JLR), is actively evaluating options to address the impact of new US tariffs.

In a regulatory filing on Tuesday, April 8, Tata Motors said JLR is still working on formulating a response plan following the United States’ recent imposition of a 25% tariff on imported vehicles. The tariff, introduced by the Donald Trump-led administration, came into effect on April 3, 2025.

“JLR is evaluating various options to suitably address the impact of the increased tariff in the US market, and the aforesaid news article refers to its immediate response,” the Mumbai-headquartered auto major stated in its clarification to stock exchanges.

US Market a Key Revenue Driver for JLR

JLR, which is deeply entrenched in the American luxury auto market, has already initiated short-term measures in response to the new trade environment. The company announced a pause in vehicle shipments from its UK manufacturing facilities to the US as it works out revised trading terms.

“The USA is an important market for JLR’s luxury brands. As we work to address the new trading terms with our business partners, we are enacting our short-term actions, including a shipment pause in April, as we develop our mid- to longer-term plans,” a JLR spokesperson said in a statement last week.

The US market accounted for around 23% of JLR’s total sales of over 400,000 units in FY24. All vehicles sold in the US are exported from JLR’s UK-based plants, making the company particularly vulnerable to the tariff changes.

Tata Motors had acquired Jaguar Land Rover from Ford Motor Company in 2008 and has since expanded its presence in global luxury car markets through the iconic British brand.

Strategic Review Underway Amid Uncertain Trade Environment

The recent developments, especially the new US tariff policy, have injected fresh uncertainty into JLR’s operations and export strategy. Investors are expected to monitor the situation closely as Tata Motors and JLR formulate a comprehensive response plan for the coming weeks.

Stock Performance

On April 08, 2025, Tata Motors share price ended 1.56% higher at ₹588.90 Tata Motors’ share price reached a 52-week high of ₹1,179.05, and a 52-week low of ₹542.55. As per BSE, the total traded volume for the stock stood at 19.0 lakh shares with a turnover of ₹112.67 crores.

According to exchange data, Tata Motors shares are trading at a price-to-earnings (P/E) ratio of 34.97x, based on its trailing 12-month earnings per share (EPS) of ₹16.84, and a price-to-book (P/B) ratio of 7.08.

Conclusion

In conclusion, the newly imposed US tariff poses a significant challenge for JLR, given the American market’s major contribution to its sales.

Tata Motors and JLR are taking immediate steps, including a shipment pause while exploring long-term strategies to navigate the shifting trade landscape. The outcome of their response will be crucial for sustaining growth and investor confidence.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Shares That Hit Circuit Limits On April 08, 2025, Godfrey Phillips, Gensol Engineering, and More

On April 08, 2025, BSE Sensex closed 1.49% higher at 74,227.08, while Nifty50 jumped 1.69% to 22,535.85. Amidst the market volatility, stocks like Gensol Engineering, Godfrey Phillips India, Axiscades Technologies, and Balu Forge Industries hit circuit limits, reflecting significant price movements. Check out the full list of stocks hitting circuits today.

Stocks That Hit Upper Circuit on April 08, 2025

Symbol LTP %chng Price Band % Volume(Lakhs) Value(₹ Crores)
TARIL 494.45 4.99 5 23.83 117.32
GRWRHITECH 2,500.00 3.36 10 3.2 82.17
WEBELSOLAR 1,172.05 -2.54 5 6.52 80.63
BALUFORGE 601.8 9.9 10 8.79 51.77
GODFRYPHLP 6,662.70 5 5 0.74 49.37

Stocks That Hit Lower Circuit on April 08, 2025

Symbol LTP %chng Price Band % Volume(Lakhs) Value(₹ Crores)
IGIL 345.1 -5 5 19.36 68.15
AXISCADES 794.2 -5 5 1.39 11.18
TECHLABS 535.8 -5 5 1.84 9.91
GENSOL 147 -5 5 5.87 8.63
HERCULES 157.54 -5 5 1.48 2.37

Overview of Companies Hitting Circuits Today

  • Transformers and Rectifiers (India) 

On April 08, 2025, Transformers and Rectifiers (India) share price ended 4.99% higher at ₹494.45. Transformers and Rectifiers (India) share price reached a 52-week high of ₹650.23, and a 52-week low of ₹220.88. At the current price, Transformers and Rectifiers (India) shares are trading at a price-to-earnings (P/E) ratio of 100.97x, based on its trailing 12-month earnings per share (EPS) of ₹4.89, and a price-to-book (P/B) ratio of 13.68, according to exchange data.

  • Axiscades Technologies

On April 08, Axiscades Technologies share price ended 5% lower at ₹794.20. Axiscades Technologies share price reached a 52-week high of ₹965.05, and a 52-week low of ₹421.05. At the current price, Axiscades Technologies shares are trading at a price-to-earnings (P/E) ratio of 134.19x, based on its trailing 12-month earnings per share (EPS) of ₹5.92, and a price-to-book (P/B) ratio of 9.96, according to exchange data.

  • Gensol Engineering

On April 08, Gensol Engineering share price ended 5% lower at ₹147.00. Gensol Engineering share price reached a 52-week high of ₹1,125.75, and a 52-week low of ₹147.00. At the current price, Gensol Engineering shares are trading at a price-to-earnings (P/E) ratio of 4.36x, based on its trailing 12-month earnings per share (EPS) of ₹33.85, and a price-to-book (P/B) ratio of 0.87, according to exchange data.

  • Godfrey Phillips India

On April 08, Godfrey Phillips India share price ended 5% higher at ₹6,662.70. Godfrey Phillips India share price reached a 52-week high of ₹8,480.00, and a 52-week low of ₹2,914.75. At the current price, Godfrey Phillips India shares are trading at a price-to-earnings (P/E) ratio of 35.27x, based on its trailing 12-month earnings per share (EPS) of ₹188.65, and a price-to-book (P/B) ratio of 8.61, according to exchange data.

  • Balu Forge Industries

On April 08, Balu Forge Industries share price ended 9.9% lower at ₹601.80. Balu Forge Industries share price reached a 52-week high of ₹890.00, and a 52-week low of ₹212.40. At the current price, Balu Forge Industries shares are trading at a price-to-earnings (P/E) ratio of 52.25x, based on its trailing 12-month earnings per share (EPS) of ₹10.51, and a price-to-book (P/B) ratio of 7.12, according to exchange data.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Bank of Maharashtra Shares Jump 5% After Strong Q4 Business Update

Bank of Maharashtra’s stock surged 5% to ₹46 per share on April 8, following the release of its business update for the January-March quarter. According to provisional data, the bank’s total deposits rose 13.4% year-on-year (YoY) to ₹3.07 lakh crore. Sequentially, deposits increased by 10.1% compared to the previous quarter.

The bank’s advances stood at ₹2.4 lakh crore, registering a YoY growth of 17.8% and a 5% rise over the December quarter, reflecting robust credit momentum.

CASA Performance Boosts Low-Cost Funding

The lender reported strong growth in Current Account and Savings Account (CASA) deposits, which rose 14.6% YoY and surged 19% quarter-on-quarter to ₹1.63 lakh crore. The CASA ratio—a critical indicator of low-cost deposit strength—stood at 53.3%. This marks an improvement over 52.7% recorded in the same quarter last year and a significant jump from 49.3% in Q3 FY24.

Credit-Deposit Ratio Sees Mixed Movement

The bank’s credit-deposit ratio for the March quarter was reported at 78.14%. While this is higher than the 75.22% reported in the corresponding period last year, it marks a decline from 81.95% in the previous quarter. Nonetheless, the data underscores continued business momentum and expanding asset base for the bank.

Stock Performance

Despite Today’s uptick, shares of Bank of Maharashtra remain under pressure, having declined nearly 34% over the past 12 months.

The recent rally comes after five straight months of losses. Even within April so far, the stock has slipped by 3%, indicating that investor sentiment is still stabilising.

Conclusion 

The Bank of Maharashtra’s Q4 update highlights solid growth in deposits, advances, and low-cost CASA funding, reflecting ongoing business momentum. While the improved metrics sparked a short-term stock rally, long-term investor sentiment remains cautious due to the stock’s year-long decline.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Poonawalla Fincorp Shares Jump Nearly 2% After Company Launches Shopkeeper Loan to Support Small Retailers

Poonawalla Fincorp Ltd. has launched its new Shopkeeper Loan business, aimed at supporting small retailers and Kirana stores across India. The offering is designed to tackle pressing financial challenges faced by this vital sector, including cash flow constraints, inventory financing, and customer management while helping enhance operational efficiency.

Boosting the Competitiveness of Small Retail Businesses

The move aligns with Poonawalla Fincorp’s broader vision of becoming the preferred financial partner for the self-employed segment.

By offering tailored financial solutions, the company seeks to strengthen the competitiveness and long-term resilience of small retail businesses—many of which serve as the backbone of India’s consumer economy.

Leadership Speaks on Strategic Launch

Commenting on the initiative, Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, stated, “India’s small retailers are the backbone of our consumer economy, yet their growth is often constrained by limited access to timely credit. With our Shopkeeper Loan, we are taking a decisive step to bridge this gap, offering tailored financial solutions that address their working capital needs and support long-term business resilience.”

He further emphasised the company’s commitment to a risk-first and customer-centric approach, aiming to empower small retail enterprises to grow and compete effectively in a fast-evolving market.

Stocks Performance 

On April 08, 2025, Poonawalla Fincorp share price traded 1.88% higher at ₹351.50 at 11:39 AM (IST). Poonawalla Fincorp’s share price reached a 52-week high of ₹513.95, and a 52-week low of ₹267.25. As per BSE, the total traded volume for the stock stood at .24 lakh shares with a turnover of ₹83.99 lakhs.

According to exchange data, Poonawalla Fincorp shares are trading at a price-to-earnings (P/E) ratio of 156.94x, based on its trailing 12-month earnings per share (EPS) of ₹2.20, and a price-to-book (P/B) ratio of 3.35.

Conclusion 

The launch of Poonawalla Fincorp’s Shopkeeper Loan marks a strategic effort to uplift small retailers and Kirana stores by addressing their financial constraints. Through this initiative, the company reinforces its focus on empowering the self-employed sector with tailored credit solutions.

With a strong emphasis on operational efficiency and business resilience, the offering is expected to significantly enhance the growth prospects of India’s vibrant but underserved small retail ecosystem.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Piramal Capital Gets RBI Nod to Operate as NBFC-ICC; Infuses ₹600 Cr into Subsidiary

Piramal Capital & Housing Finance Ltd. has received the Reserve Bank of India’s (RBI) approval to operate as a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC), the company said in a regulatory statement. The housing finance business will continue under the NBFC licence.

At the time of the announcement, shares of Piramal Enterprises Ltd., the parent company of Piramal Capital, were trading over 4% lower at ₹920.05 apiece on the Bombay Stock Exchange (BSE).

₹600 Cr Capital Infusion into Piramal Finance

In a parallel development, Piramal Enterprises recently infused ₹600 crore into its wholly owned subsidiary, Piramal Finance Ltd. (PFL), through a rights issue. The funds will be used to support PFL’s business operations and general corporate purposes. The company confirmed that the rights issue would not impact its shareholding percentage in PFL.

₹300 Cr NCD Issue Approved

Separately, Piramal Enterprises announced on March 27 that it has approved the issuance of secured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis. The base issue size is ₹100 crore, with a green shoe option to retain oversubscription of up to ₹200 crore, taking the total issue size to ₹300 crore.

These NCDs will mature and be redeemed on April 9, 2029. In the event of default in either interest or principal payments, an additional interest of 1% per annum will be levied until the default is cured.

The series of moves — including the RBI’s regulatory nod, capital infusion, and fresh debt issuance — underscore Piramal’s efforts to strengthen its financial services business and enhance liquidity.

Stock Performance 

On April 08, 2025, Piramal Enterprises share price traded 0.76% higher at ₹962.95 at 11:13 AM (IST). Piramal Enterprises’ share price reached a 52-week high of ₹1,275.40, and a 52-week low of ₹736.60. As per BSE, the total traded volume for the stock stood at 4,792 shares with a turnover of ₹45.87 lakhs.

According to exchange data, Piramal Enterprises shares are trading at a price-to-earnings (P/E) ratio of 14.55x, based on its trailing 12-month earnings per share (EPS) of ₹65.67, and a price-to-book (P/B) ratio of 0.99.

Conclusion 

Piramal Capital & Housing Finance’s latest milestones, including the RBI’s regulatory clearance, a ₹600 crore capital infusion into Piramal Finance, and the approval of a ₹300 crore NCD issue, reflect the company’s proactive approach to bolstering its financial services arm.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

ICICI Bank Allots Over 4.7 Lakh Shares Under ESOP Scheme to Boost Employee Ownership

ICICI Bank announced on April 7, 2025, that it has allotted 470,764 equity shares of ₹2 face value each under its Employees Stock Option Scheme-2000. The decision was approved at 3:46 p.m. by two Executive Directors of the bank, acting under the authority delegated by the Board of Directors during its meeting held on October 21, 2023.

The allotment reaffirms ICICI Bank’s commitment to empowering employees by offering them equity ownership, thereby aligning individual growth with the company’s long-term success.

Transparency and Governance Ensured

The development was communicated to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), in line with the bank’s regulatory compliance and governance framework.

Rinku Maniar, Head – Stakeholders Management & Governance at ICICI Bank, stated in the official release, “This allotment under the ESOP scheme underscores ICICI Bank’s focus on recognising and rewarding the contributions of our employees. We believe that employee ownership fosters a stronger sense of commitment and alignment with the bank’s long-term goals.”

Shares Subject to Lock-in Period

As per ESOP scheme guidelines, the newly allotted shares will be subject to applicable lock-in periods. The bank will soon communicate further procedural details to the eligible employees.

This latest equity allotment is expected to positively impact employee morale and reinforce ICICI Bank’s reputation as one of the leading employers in the financial services sector.

Stock Performance 

On April 08, 2025, ICICI Bank share price traded 0.43% higher at ₹1,293.15 at 10:27 AM (IST). ICICI Bank’s share price reached a 52-week high of ₹1,372.50, and a 52-week low of ₹1,048.35. As per BSE, the total traded volume for the stock stood at 0.48 lakh shares with a turnover of ₹6.23 crores.

According to exchange data, ICICI Bank shares are trading at a price-to-earnings (P/E) ratio of 20.15x, based on its trailing 12-month earnings per share (EPS) of ₹64.18, and a price-to-book (P/B) ratio of 3.52.

Conclusion 

The latest allotment of shares under ICICI Bank’s ESOP-2000 scheme highlights the bank’s ongoing focus on employee engagement and retention through equity participation. By empowering employees with ownership stakes.

The bank aims to foster deeper alignment with its strategic vision and long-term growth. This move not only boosts employee morale but also strengthens ICICI Bank’s position as a progressive and people-centric leader in the financial services industry.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Glenmark Pharma Appoints Anurag Mantri as Global CFO

Glenmark Pharmaceuticals on Monday, April 7, announced a key leadership change, naming Anurag Mantri as its next Executive Director and Global Chief Financial Officer (CFO). The appointment follows the early retirement of long-serving CFO and Executive Director VS Mani, who will officially step down on May 26, 2025. However, Mani will remain with the company during a transition period to ensure a smooth handover of responsibilities.

In a letter of resignation, Mani cited crossing the age of 60 as a factor in his decision to retire and expressed gratitude for his eight-year tenure. He thanked Glenmark’s Chairman and Managing Director Glenn Saldanha, the board, and his colleagues for their continued support. The company, in return, acknowledged his significant contributions to the business.

Anurag Mantri Brings 30+ Years of Financial Leadership

Anurag Mantri, a seasoned chartered accountant, brings over three decades of experience in finance, global compliance, IPO management, M&A, and corporate strategy. He joins Glenmark from Jindal Stainless Limited, where he served as Executive Director and Group CFO since 2016. Jindal Stainless had disclosed Mantri’s resignation in a regulatory filing on March 21, confirming that he would step down at the close of business hours on April 4, 2025.

Pending board and committee approvals, Mantri is set to take over as Glenmark’s new Executive Director and CFO. His prior roles include senior finance positions at renowned firms such as Larsen & Toubro, HCL Technologies, SRF Limited, Cairn Energy, ACME Group, and Schneider Electric Infrastructure Limited (SEIL). He holds a Bachelor of Commerce degree from the University of Rajasthan.

Stock Performance 

On April 08, 2025, Glenmark Pharmaceuticals share price traded 0.14% higher at ₹1,443.20 at 10:11 AM (IST). Glenmark Pharmaceuticals’ share price reached a 52-week high of ₹1,830.05, and a 52-week low of ₹985.60. As per BSE, the total traded volume for the stock stood at 1,266 shares with a turnover of ₹18.35 lakhs.

According to exchange data, Glenmark Pharmaceuticals shares are trading at a price-to-earnings (P/E) ratio of 6.70x, based on its trailing 12-month earnings per share (EPS) of ₹215.33, and a price-to-book (P/B) ratio of 1.70.

Conclusion 

Glenmark Pharmaceuticals has announced the appointment of Anurag Mantri as its next Executive Director and Global CFO, following the early retirement of VS Mani, effective May 26, 2025. 

Mantri, a chartered accountant with over 30 years of experience, joins from Jindal Stainless Limited. The company praised Mani’s contributions and expressed confidence in Mantri’s leadership, as the transition aims to strengthen governance and support long-term growth amid evolving market dynamics.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

boAt Parent Imagine Marketing Files Confidential Draft Papers for IPO

Imagine Marketing, the parent company of popular wearables brand boAt, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) through the confidential pre-filing route. This mechanism allows the company to keep the details of its draft red herring prospectus (DRHP) private during the early regulatory review stages.

In a public notice issued on Monday, Imagine Marketing stated, “The company has filed the Pre-filed Draft Red Herring Prospectus with SEBI and stock exchanges under the ICDR (Issue of Capital and Disclosure Requirements) Regulations to the proposed IPO of its equity shares on the main board of the stock exchanges.” However, the company clarified that this pre-filing does not ensure that the IPO will ultimately take place.

Second IPO Attempt for boAt-Maker

This marks Imagine Marketing’s second attempt to go public. In January 2022, the company filed draft papers for a ₹2,000 crore IPO, which included a fresh issue of equity shares worth ₹900 crore and an offer for sale (OFS) of up to ₹1,100 crore. That plan was eventually shelved amid volatile market conditions.

Founded in 2013 by Aman Gupta and Sameer Mehta, Imagine Marketing has grown rapidly, offering a wide portfolio of products that includes audio devices, smart wearables, personal grooming equipment, and mobile accessories under the boAt brand. The company has become a household name in the Indian wearables and lifestyle tech space.

Growing Trend of Confidential IPO Filings

Imagine Marketing’s decision to opt for the confidential pre-filing route follows a rising trend among Indian startups and established players. Recently, major names like Tata Capital and edtech unicorn PhysicsWallah have used the same route. In 2024, Swiggy and Vishal Mega Mart successfully launched their IPOs after taking the confidential route.

Other companies like OYO and Tata Play had also used the pre-filing option. Tata Play, in fact, was the first Indian company to adopt this route in December 2022 and received SEBI’s nod in April 2023 but later chose to withdraw its IPO plans.

According to news reports, the pre-filing route offers greater flexibility and reduces the pressure associated with public scrutiny. Unlike the traditional IPO process, which mandates a launch within 12 months of SEBI approval, the confidential route allows a company 18 months to proceed after receiving final comments from the regulator.

Furthermore, companies are allowed to revise their primary issue size by up to 50% until the Updated Draft Red Herring Prospectus (UDRHP) stage, offering further room to adapt to changing market dynamics.

Conclusion 

Imagine Marketing’s move to reinitiate its IPO plans through the confidential pre-filing route signals renewed confidence and strategic caution amid evolving market dynamics. By leveraging this flexible regulatory pathway, the boAt-maker aligns with a growing number of Indian companies seeking greater control over timing and disclosures.

Whether the IPO proceeds or not, the filing reflects the company’s continued ambition to strengthen its financial base and expand its leadership in the consumer tech space.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.