Boat sets sail for $300-500 million IPO with bankers on board

This comes as Boat’s revenue fell 5% in FY24 to Rs 3,285 crore, while it halved losses to Rs 70.8 crore. Sources said there’s a consolidation underway in the sector and that the recent Diwali season lifted sales after several muted quarters. Boat recorded positive earnings before interest, taxes, depreciation, and amortisation (ebitda) in FY24.