Atomberg Technologies Secures SEBI Approval for IPO Featuring Rs 450-Crore Fresh Issue

Smart and energy-efficient consumer appliance maker Atomberg Technologies Limited has obtained approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The company had submitted its draft red herring prospectus (DRHP) to the capital markets regulator in August.

The public offering will consist of a fresh issue of equity shares aggregating up to Rs 450 crore and an offer for sale (OFS) of up to 7,65,42,051 equity shares by existing financial investors. The overall offering size is expected to be in the range of Rs 1,500 crore to Rs 2,000 crore, depending on the final price band.

Selling Shareholders and Offer Structure

Promoters Manoj Meena and Sibabrata Das are not offloading any portion of their holdings in the public issue. The OFS will be driven entirely by institutional and early-stage backers looking to trim or rebalance their positions:

• A91 Emerging Fund I (A91 Partners) is the primary selling shareholder, offering up to 3.7 crore equity shares.
• Temasek-backed V-Sciences Investments is looking to divest up to 1.22 crore shares.
• Jungle Ventures' JV4 plans to offload nearly 99.5 lakh shares.
• Other institutional selling entities include funds managed by Inflexor, Steadview Capital Mauritius, and Survam Partners LLP.

Atomberg also holds the option to consider a pre-IPO placement of up to Rs 90 crore prior to the opening of the issue, which would proportionally reduce the fresh issue component.

Planned Utilization of Fresh Proceeds

Out of the Rs 450 crore raised through the fresh issue, Atomberg has demarcated capital toward key growth and balance sheet priorities:

• Brand building and marketing: Rs 150 crore will be deployed toward performance marketing and enhancing brand awareness across consumer touchpoints.
• Research and development: Rs 100 crore is earmarked for investments in R&D to enhance product architectures and consumer tech features.
• Debt reduction: Rs 90 crore will be allocated toward the full or partial prepayment or repayment of outstanding borrowings.
• Corporate purposes: The balance amount will be directed toward general corporate operations and expansion requirements.

Financial Track Record and Operations

Founded in 2012 by Manoj Meena and joined by Sibabrata Das in 2013, Atomberg pioneered brushless DC (BLDC) motor technology in the Indian ceiling fan market. It has since expanded into kitchen appliances, including mixer grinders and cold-pressed juicers, as well as smart door locks and water purifiers. Through its subsidiary, Atomberg Innovations Private Limited, the company also designs and supplies proprietary motors and motor controllers to original equipment manufacturers (OEMs), including Voltas, Godrej, and Blue Star.

According to its DRHP disclosures, Atomberg recorded revenue from operations of Rs 1,293.77 crore in FY26, advancing 34.8% from Rs 959.51 crore in FY25 and up from Rs 796.98 crore in FY24. The company posted an adjusted EBITDA of Rs 37.12 crore in FY26. Net losses narrowed to Rs 148.88 crore during the same period, compared to a loss of Rs 199.08 crore reported in FY24.

The company manufactures its consumer and industrial portfolios across two leased production hubs in Pune, Maharashtra.

ICICI Securities, Avendus Capital, and IIFL Capital Services are acting as the book-running lead managers for the issue. Atomberg is expected to declare its price band and issue dates in the near future following regulatory sign-off.