India, Feb. 26 -- Consumer electronics major boAt has got its board green light to proceed with its initial public offering (IPO).

The company's board has cleared changes in its articles of association (AoA), clearing the path for the IPO, as per boAt's regulatory filing with the MCA.

"The company is proposing to undertake an initial public offer of the equity shares of face value of INR 1 each of the company comprising of fresh issuance of equity shares by the company and an offer for sale of equity shares by certain existing shareholders.. and list the equity shares on one or more of the stock exchanges," the resolution passed by the board read, as per the filing.

The IPO would comprise a fresh issue of INR 500 Cr, as per the filing....