boAt cofounder Aman Gupta has announced a new venture, OffBeat Studios, weeks after transitioning away from the day-to-day operations of the IPO-bound consumer electronics company. The announcement comes at a time when boAt is recalibrating its public listing plans and restructuring its leadership team.

Gupta revealed the new venture in a post on X, describing it as “Aman 2.0” and hinting at a fresh entrepreneurial chapter. However, he did not disclose any details about the business model, sector focus, funding, or launch timeline of OffBeat Studios.

Leadership shift at boAt

The move follows Gupta’s transition in September 2025 to a non-executive director role on boAt’s board. In the same month, the company appointed Gaurav Nayyar as chief executive officer, while cofounder Sameer Mehta assumed the role of executive director with a focus on strategy.

The leadership reshuffle comes amid boAt’s renewed push towards an initial public offering (IPO), its second attempt at going public.

IPO plans put on hold again

After shelving a ₹2,000 crore IPO in 2022, the company revived its listing ambitions last year. It filed confidential IPO papers in April 2025 and later submitted an updated draft red herring prospectus (UDRHP) in October 2025 for a ₹1,500 crore public issue after receiving regulatory clearance.

The proposed IPO comprises a fresh issue of shares worth up to ₹500 crore and an offer for sale (OFS) of ₹1,000 crore by existing shareholders. As part of the OFS, Gupta and Mehta plan to offload shares worth ₹300 crore combined, while the remaining stake sale would be undertaken by investors Fireside Ventures and Qualcomm.

However, according to a CNBC TV-18 report, the company has once again paused its IPO plans to reassess market conditions and evaluate internal readiness. The timeline for the listing remains unclear.

Return to profitability

Financially, boAt has shown signs of recovery. The company reported a net profit of ₹21.4 crore in Q1 FY26, compared to a net loss of ₹31.1 crore in the same period last year. Operating revenue grew 11% year-on-year to ₹628.1 crore, driven by sales of audio wearables, smartwatches, power banks and other electronics. Including other income of ₹10.3 crore, total income stood at ₹638.4 crore for the quarter.

For the full year FY25, boAt posted a net profit of ₹60.4 crore against a loss of ₹73.7 crore in FY24, while revenue remained largely flat at ₹3,073.3 crore.