SYNOPSIS: boAt plans a Rs. 1,500 crore IPO while auditors flag discrepancies between lender submissions and internal records, placing attention on financial controls as the company outlines its intended use of fresh issue proceeds.

The proposed IPO of boAt will consist of equity shares amounting to Rs. 1,500 crore, comprising a Rs. 500 crore fresh issue and a Rs. 1,000 crore offer for sale (OFS). Under the OFS, shares will be divested by several existing stakeholders, including Rs. 75 crore worth of shares from Sameer Ashok Mehta, Rs. 225 crore from Aman Gupta, Rs. 500 crore from South Lake Investment, Rs. 150 crore from Fireside Ventures, and Rs. 50 crore from Qualcomm Ventures.

From the fresh issue proceeds, the company intends to allocate Rs. 225 crore towards working capital requirem

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