BOULT aims to go public with IPO in 2025
Varun Gupta, co-founder of Indian consumer tech brand BOULT, has revealed the company's plans to go public in the upcoming year. The decision is contingent on the firm reaching its internal revenue target of ₹1,000 crore for the fiscal year 2024-25. Despite being currently eligible for an IPO with profits exceeding ₹500 crore, BOULT aims to hit its set milestone before considering an initial public offering.
BOULT's focus this year is to expand into offline markets
Gupta stated that BOULT's primary focus this year is not on the IPO, but on expanding into offline markets, venturing into international territories, and exploring new product categories. The company anticipates ending the financial year 2023-24 with revenues between ₹650-700 crore. The ambitious ₹1,000 crore target for FY25 is seen as achievable due to BOULT's diversification efforts and its growing influence in the True Wireless Stereo (TWS) market.
BOULT's presence in India and abroad
In October of the previous year, BOULT extended its presence to brick-and-mortar retail stores, aiming to be available at 20,000 points of sale within India. Gupta stated that the company has made its presence felt in every state in India with over 4,000 points of sale. Additionally, BOULT marked its international debut in May 2023 in the US and UK markets and entered Nepal in January 2024.
BOULT champions 100% in-house product design
Gupta emphasized BOULT's commitment to the 'Make in India' initiative, stating that 99% of their products sold in India are locally manufactured and assembled. Unlike other Indian firms that source products from original equipment manufacturers (OEMs), BOULT champions 100% in-house product design. "This is why our products stand out with a high degree of differentiation and uniqueness," Gupta added.
BOULT has over 2 million ratings, highest repeat purchases: Gupta
The company, which has enlisted actor Saif Ali Khan and cricketer Suryakumar Yadav as brand ambassadors, prioritizes maintaining a specific price point and superior product quality over heavy marketing expenditure. "This is our core strategy, and it's why we have over two million ratings and the highest repeat purchases in the category," Gupta explained. In 2024, Gupta stated that BOULT, along with its competitors like Boat and Noise, has collectively captured about 80% of the market.
