Huge investments in ‘boat’ company!

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Prime Time Zone, Webdesk: The domestic brand boat, which sells electronic gadgets like earphones and speakers, is currently priced at Rs. Raised funds of Rs 731 crore. With this, the value of the boat company is about Rs. Market sources estimate that it has reached Rs 2,100 crore. Leading international private equity firm Warburg Pinkus has invested in the company.

The boat, which sells consumer brand products in particular, has been facing stiff competition from brands in China as well as other countries over the past few years. Boat promoters Sameer Mehta and Aman Gupta said that with the new investments, the company will be able to strengthen its domestic manufacturing and achieve growth. The boat company said it would manufacture the products as part of a product integration scheme recently implemented by the center and bring in the newest products domestically. Made in India products will be launched in the next two to three quarters, which are currently in the early stages. At the beginning of the first quarter of last year, the boat company had a net profit of Rs. 700 crore turnover and Rs. The company is hopeful of registering sales of Rs 1000 crore.