New Delhi, Oct. 30 -- Wearables maker boAt is heading to the public markets with a Rs.1,500 crore initial public offer just as the once-hot market shows signs of fatigue. The draft prospectus filed with Securities and Exchange Board of India yesterday points to a company in the middle of a rehaul of its playbook as it pushes offline, tightens costs and explores overseas markets.

Can boAt evolve into a steadier consumer electronics player? Mint explains.

The newly filed prospectus shows that boAt aims to raise Rs.1,500 crore through its IPO, with Rs.500 crore coming from a fresh share issue and the balance through an offer for sale by its promoters and current investors, including Warburg Pincus and boAt founders. The timing is critical,...