boAt is set to launch its Rs 1,500-crore IPO. (Image: PixaHive) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Audio and wearables brand boAt's initial public offer appears to be encountering turbulence before even reaching the runway. In a LinkedIn post, market commentator and author Jayant Mundhra flagged several serious people-related concerns at the company, citing disclosures in its updated Draft Red Herring Prospectus.

According to the DRHP, both co-founders Sameer Ashok Mehta and Aman Gupta resigned from their executive positions just 29 days before boAt filed for its IPO. Mehta stepped down as Chief Executive Officer, while Gupta resigned as Chief Marketing Officer.

Mundhra highlighted that both have now shifted to board roles with Mehta as Executive Director an

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