Aman Gupta Announces OffBeat Studios After Stepping Back At boAt

Aman Gupta, cofounder of boAt, has announced a new venture called OffBeat Studios, months after stepping away from day-to-day responsibilities at the company.

Gupta shared the update on X, hinting at the beginning of a new phase in his entrepreneurial journey, though details about the venture remain limited for now.

With every birthday, some grow older, I grow bolder. I am still hungry, still impatient and still driven. Aman 2.0 begins soon.
Introducing my new venture. @Offbeatstudios1pic.twitter.com/kRwGtZaSqq

— Aman Gupta (@amangupta0303) March 3, 2026

“With every birthday, some grow older, I grow bolder. I am still hungry, still impatient and still driven. Aman 2.0 begins soon. Introducing my new venture, @Offbeatstudios1,”

At this stage, Gupta has not disclosed what OffBeat Studios will focus on or how the venture will operate.

The announcement follows Gupta’s move in September 2025 to a non-executive director role on the board of boAt. The transition marked a shift in responsibilities as the company prepared for its next phase of growth.

Around the same time, Gaurav Nayyar was appointed CEO, while co-founder Sameer Mehta moved into the role of executive director, focusing on strategy. Leadership transitions of this nature are often seen when startups mature and begin preparing for public markets, with founders stepping back from operational roles to focus on strategic oversight.

IPO Plans Still Under Review

The development also comes as boAt continues to evaluate the timing of its public listing.

The company had earlier withdrawn plans for a ₹2,000 crore IPO in 2022 before attempting again in 2025. It confidentially filed for an IPO in April 2025 and later submitted an updated Draft Red Herring Prospectus (DRHP) in October 2025 for a ₹1,500 crore public issue.

The proposed offering includes:

• Fresh issue of shares worth up to ₹500 crore

• Offer for sale (OFS) of ₹1,000 crore by existing shareholders

Under the OFS component, Gupta and Mehta together plan to sell shares worth ₹300 crore, while investors Fireside Ventures and Qualcomm are expected to offload the remaining stake.

However, reports indicate that the company has put the IPO on hold for now as it reassesses market conditions and its internal readiness.

Financial Performance

Financially, boAt has shown signs of improvement over the past year.

According to its updated filings, the company reported a net profit of ₹21.4 crore in Q1 FY26, compared with a net loss of ₹31.1 crore in the same quarter last year.

Revenue also recorded steady growth during the period:

• Operating revenue: ₹628.1 crore in Q1 FY26

• Operating revenue: ₹567.2 crore in Q1 FY25

The growth was driven by sales across categories such as audio wearables, smartwatches, power banks, and other electronics. Including other income of ₹10.3 crore, the company’s total income for the quarter stood at ₹638.4 crore.

For the full year FY25, boAt reported a net profit of ₹60.4 crore, compared with a loss of ₹73.7 crore in the previous fiscal, while revenue remained largely stable at ₹3,073.3 crore.

While OffBeat Studios has been introduced, its direction remains unclear for now. Gupta has not shared timelines, sector focus, or early products related to the venture. For the moment, the announcement signals that even as boAt continues to work towards a public listing, one of its founders is beginning to explore a new entrepreneurial path.