Archive · 12 Dec 2025
BoAt Flags Financial Mismatch in IPO Filings
BoAt, a company that makes consumer electronics, is getting ready to go public.
But they found some problems in their financial records.
The numbers they gave to banks didn't match their own books.
Auditors noticed that money was used for different things than it was supposed to be.
People on social media are asking questions about some transactions and payments to directors.
The company is trying to fix these issues.
Also, the co-founder Aman Gupta is now a non-executive director, and Sameer Mehta is the new executive director.
BoAt found mismatches between financial statements given to lenders and their internal records for fiscal years 2023, 2024, and 2025.
Auditors flagged concerns over funds being used for different purposes than intended.
The company's IPO prospectus is under scrutiny on social media for unreported transactions and excess remuneration paid to directors in 2023.
BoAt is taking steps to rectify the issues, including obtaining waivers and ensuring accurate reporting.
Leadership changes include Aman Gupta moving to a non-executive director role and Sameer Mehta becoming the executive director.
- Who
- BoAt (Imagine Marketing)
- What
- Mismatch in financial statements filed with lenders
- When
- Fiscal years 2023, 2024, 2025
- Where
- India
- Why
- Auditors flagged discrepancies in fund utilization and reporting
- Company
- BoAt (Imagine Marketing)
- Issue
- Mismatch in financial statements
- Years Affected
- 2023, 2024, 2025
- Auditor Concerns
- Funds used for different purposes
- IPO Status
- Under scrutiny
- Company Action
- Rectifying observations, obtaining waivers
- Leadership Changes
- Aman Gupta to non-executive director, Sameer Mehta to executive director
