SEBI Clears Atomberg Technologies For IPO Featuring ₹450 Crore Fresh Issue
Capital markets regulator Securities and Exchange Board of India (SEBI) has granted regulatory clearance to home appliances manufacturer Atomberg Technologies for its proposed initial public offering (IPO). The Mumbai-headquartered company had submitted its Draft Red Herring Prospectus (DRHP) in August 2026.
The public offering consists of a fresh issue of equity shares worth up to ₹450 crore and an offer for sale (OFS) of up to 7,65,41,851 equity shares by existing private equity and venture capital investors.
Issue Structure and Selling Shareholders
While the company is yet to fix the price band and launch dates, market estimates suggest the total issue could raise between ₹1,500 crore and ₹2,000 crore depending on valuation and market conditions.
Under the OFS component, major institutional backers offloading part of their holdings include:
- A91 Emerging Fund I (A91 Partners)
- V-Sciences Investments (backed by Temasek Holdings)
- Jungle Ventures
- Inflexor Ventures
- Steadview Capital Mauritius
- Survam Partners LLP
Significantly, co-founders Manoj Meena and Sibabrata Das are not selling any shares in the OFS, retaining their aggregate promoter holding.
Atomberg also retained the flexibility to consider a pre-IPO placement of up to ₹90 crore. If such a private placement is executed prior to filing the final prospectus, the fresh issue component will be scaled down accordingly.
Use of Fresh Capital
According to the regulatory draft papers, Atomberg plans to deploy the net proceeds from its ₹450 crore fresh issuance toward strengthening its balance sheet and expanding retail presence:
- ₹150 crore for brand awareness and performance marketing initiatives
- ₹100 crore for research and development (R&D) investments
- ₹90 crore for repayment or prepayment of outstanding debt
- The remainder earmarked for general corporate purposes
Financial and Operational Scale
Founded in 2012 by IIT Bombay alumnus Manoj Meena, who was joined by Sibabrata Das in 2013, Atomberg disrupted India's ceiling fan market with energy-efficient brushless direct current (BLDC) motor technology. Over the years, it has diversified into mixer grinders, water purifiers, smart locks, and cold-pressed juicers. Its subsidiary, Atomberg Innovations, also supplies proprietary motors and controllers to original equipment manufacturers such as Voltas, Godrej, and Blue Star.
Financially, Atomberg’s revenue from operations surged 34.8% to ₹1,293.77 crore in FY26 compared to ₹959.51 crore in FY25 and ₹796.98 crore in FY24. The company's restated loss narrowed to ₹148.88 crore in FY26 from ₹199.08 crore in FY24. Its adjusted EBITDA stood at ₹37.12 crore in FY26 against ₹51.35 crore in FY25.
The book-running lead managers appointed for the public issue are ICICI Securities, Avendus Capital, and IIFL Capital Services, with MUFG Intime India acting as the registrar to the offer.
