boAt cofounder Aman Gupta has unveiled a new venture, OffBeat Studios, after stepping away from the day-to-day operations of the IPO-bound consumer electronics startup.

Gupta made the announcement on X, without giving any information about what the new startup will do. “With every birthday, some grow older, I grow bolder. I am still hungry, still impatient and still driven. Aman 2.0 begins soon. Introducing my new venture, @Offbeatstudios1,” he wrote in a post.

The move follows Gupta’s transition to a non-executive director role on boAt’s board in September 2025. 

In the same month, the startup appointed Gaurav Nayyar as its CEO, while cofounder Sameer Mehta took on the role of executive director focussed on strategy.

The development also comes amid boAt’s second attempt at an initial public offering (IPO). After shelving its plans for an ₹2,000 Cr IPO in 2022, the company took a stab at a public listing last year. 

After filing for an IPO confidentially in April 2025, the company filed an updated DRHP for an ₹1,500 Cr IPO in October 2025 after receiving the market regulator’s go-ahead. Its proposed IPO will comprise a fresh issue of shares worth up to ₹500 Cr and an offer for sale (OFS) component of ₹1,000 Cr by existing investors.

In the OFS, Mehta and Gupta together plan on offloading shares worth ₹300 Cr, while the remainder of stake sale would be done by investors Fireside and Qualcomm.

As per reports, the company has yet again postponed its IPO plans. As per a report by CNBC TV-18, the company has put the public issue on hold to reassess market conditions and evaluate its internal readiness. Inc42 couldn’t independently verify the timeline for boAt’s listing plans. 

On the financial front, after returning to profitability in FY25, the consumer electronics company stayed in the black in the first quarter of FY26. It posted a net profit of ₹21.4 Cr in Q1 FY26, compared with a net loss of ₹31.1 Cr in the same period last year, as per its updated draft red herring prospectus (UDRHP).

Its operating revenue grew 11% to ₹628.1 Cr in Q1 FY26 from ₹567.2 Cr in Q1 FY25, led by sales of audio wearables, smartwatches, power banks and other electronics. Including other income of ₹10.3 Cr, total income for the quarter stood at ₹638.4 Cr.

For the full year FY25, the company reported a net profit of ₹60.4 Cr as against a loss of ₹73.7 Cr in the previous fiscal, even as its revenue remained largely flat at ₹3,073.3 Cr.

 

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