India, Nov. 2 -- When boAt first floated its IPO plans in September 2021, it was aiming to raise close to INR 3,500 Cr. The plan was shelved eventually as market conditions soured. The Aman Gupta-founded company was loss-making then, its dependency on imports was too heavy and global markets were about to tumble after the highs of the zero interest rate fiscal policy.

Earlier this week, when boAt filed its pre-IPO papers again, it came with far more tempered expectations. The electronics maker is looking to raise INR 1,500 Cr from the market, and more importantly, it is a business that's trending towards profitable growth.

Like many other new-age listings, boAt is coming to terms with market reality - much like Urban Company and Lenskar...