boAt’s back in the green; The healthcare 2.0 revolution
Imagine Marketing, the parent company of wearables brand boAt, has returned to profitability, albeit at the cost of revenue growth. Wellness Co operates centres across India, which offer more than 50 therapies and diagnostic services.
Hello,
It was a busy day at the bourses.
Tata Capital’s Rs 15,512-crore IPO—the largest public issue this year—was subscribed 39% on day one, with the employee reserved portion oversubscribed 1.1X. According to InvestorGain, the unlisted shares of the company were trading at nearly 4% grey market premium over the IPO price.
Meanwhile, WeWork India is having a tough time with muted interest. Its Rs 3,000-crore issue was only subscribed 13% on day 2 of bidding, though more retail investors showed up.
This tepid investor interest hasn’t deterred companies from lining up to go public.
Omnichannel eyewear retailer Lenskart received approval from SEBI to launch its IPO, which, according to reports, will likely happen mid-November. The public offer comprises a fresh issue of equity shares worth up to Rs 2,150 crore and an offer for sale of up to 132.29 million shares.
Wakefit, too, got the nod from the market regulator for its IPO, with a potential size of up to Rs 2,000 crore.
In other news, India has got its newest unicorn!
Stockbroking platform Dhan’s parent company, Raise Financial Services, has raised $120 million in a Series B funding round, valuing the firm at about $1.2 billion.
In today’s newsletter, we will talk about
- boAt climbs back to profitability
- The healthcare 2.0 revolution
- Gendered impact of the climate crisis
Here’s your trivia for today: Where was the fortune cookie invented as an after-dinner dessert?
Insight
boAt climbs back to profitability
Imagine Marketing, the parent company of wearables brand boAt, has returned to profitability, albeit at the cost of revenue growth.
The company’s turnaround comes after two years of posting consistent losses. Delhi-NCR-based boAt posted a consolidated net profit of Rs 60 crore in FY25, against a net loss of Rs 79.7 crore in FY24, according to a press note.
Financial turnaround:
- boAt reported a marginal dip in its consolidated revenue to Rs 3,097.8 crore, helped by traction in audio as well as in new businesses. The company posted Rs 3,117.6 crore in revenue from operations in FY24.
- It posted an EBITDA of Rs 142 crore in the financial year ended March 31, 2025. During the same period, it nearly halved its working capital from holding 71 days of inventory to 36 days, allowing it to be more financially agile.
- During the year, the company improved its use of sales channels by adding quick commerce as an important segment along with ecommerce, offline retail, and exports.

Funding Alert
Startup: Raise Financial Services
Amount: $120M
Round: Series B
Startup: JSW One Platforms
Amount: Rs 235 Cr
Round: Undisclosed
Startup: GreyLabs AI
Amount: Rs 85 Cr
Round: Series A
Startup
The healthcare 2.0 revolution
In 2021, when the world was dealing with the COVID-19 pandemic, Rishabh Jain and his brother, Rohan Jain, found a gap in preventive healthcare. While people became more aware of immunity, recovery, and preventive health, choices beyond gyms and traditional medicine were limited.
This is where Wellness Co comes in. The startup operates centres across India, which offer more than 50 therapies and diagnostic services, combining advanced medical technology with personalised health protocols.
Personalised solutions:
- Some of the more popular therapies offered at the centres include cryotherapy, where a person steps into a chamber cooled to minus 100 degrees Celsius for four minutes; hyperbaric oxygen, where clients breathe pure oxygen inside a pressurised pod, which helps detoxify the lungs; red light therapy, and IV drips.
- The Wellness Co follows a B2C membership-based model, with pricing starting at around Rs 5,000 for a single trial session. Memberships range from Rs 75,000 to Rs 1 lakh per month, depending on the programme and diagnostic tests included.
- The company closed FY25 at around Rs 40 crore in revenue and expects to cross Rs 50 crore in FY26, with its current valuation reported as Rs 250 crore, according to Rishabh.

Insight
Gendered impact of the climate crisis
The Gender Snapshot 2025 report, released recently by the UN, warns that climate change is not gender-neutral.
The report indicates that existing adaptation and humanitarian systems systematically fail women and points to the absence of gender-specific climate action that takes into account women’s needs.
From safety challenges and poor health to consequences such as violence and death, assumed roles and responsibilities, burden of care, and social norms ensure that women are impacted more severely in cases of climate disaster-induced displacement.

News & updates
- AI alliance: Advanced Micro Devices shares soared after it signed a deal with OpenAI to deploy 6 gigawatts of AMD graphics processing units over multiple years. The company also gave OpenAI a warrant for as many as 160 million shares at a penny apiece, equivalent to about 10% of its outstanding stock.
- Gloomy outlook: Aston Martin warned of losses and lower sales, blaming the shortfall on higher US tariff costs and slower demand in China. The carmaker forecast that adjusted loss before tax and interest would be greater than 110 million pounds, the lower end of the consensus of analysts’ expectations.
- Big Tech probe: French prosecutors are investigating tech giant Apple’s voice assistant Siri after receiving a complaint accusing the company of illicit data collection.
Where was the fortune cookie invented as an after-dinner dessert?
Answer: The US. They were likely invented by early Japanese immigrants between the 1880s and 1900s.
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