SEBI Approves IPOs of Atomberg Technologies, Ratnadeep Retail, GNI Infrastructure, and Punjab Carbonic — November 6, 2026

Markets regulator Securities and Exchange Board of India (SEBI) has cleared the draft papers for initial public offerings (IPOs) submitted by four diverse companies: smart appliance manufacturer Atomberg Technologies, Hyderabad-based grocery chain Ratnadeep Retail, construction player GNI Infrastructure, and liquid carbon dioxide producer Punjab Carbonic.

The market regulator issued its final observation letters between October 27 and October 30. In SEBI regulatory procedure, the issuance of an observation letter indicates clearance to launch a public issue within a one-year window.

Atomberg Technologies

Mumbai-headquartered consumer appliance company Atomberg Technologies, founded by Manoj Meena and Sibabrata Das, is planning an initial share sale comprising a fresh issue of shares worth up to ₹450 crore and an offer-for-sale (OFS) of up to 7.65 crore equity shares by existing investors.

Key institutional investors offloading equity under the OFS include A91 Partners, Temasek-backed V-Sciences Investments, Jungle Ventures, Inflexor, Steadview Capital Mauritius, and Survam Partners LLP.

Utilisation of Atomberg's Fresh Proceeds:

• ₹150 crore allocated toward brand awareness and performance marketing initiatives.
• ₹100 crore earmarked for research and development (R&D) investments.
• ₹90 crore dedicated to prepaying or repaying outstanding debt.
• The remaining capital will fund general corporate purposes.

For FY26, Atomberg posted revenue from operations of ₹1,293.77 crore, up from ₹796.98 crore in FY24, while net loss narrowed to ₹149 crore from ₹199 crore over the same period. The company operates manufacturing units in Pune and counts ICICI Securities, Avendus Capital, and IIFL Capital Services as the book-running lead managers.

Ratnadeep Retail

Organised food and grocery supermarket chain Ratnadeep Retail received its observation letter on October 27. The company’s IPO structure includes a fresh equity issuance of up to ₹400 crore alongside an OFS of nearly 1.49 crore equity shares by its promoters.

Utilisation of Ratnadeep Retail's Issue Proceeds:

• ₹260 crore to finance store rollouts under the Ratnadeep and National Mart retail formats.
• ₹40 crore toward debt repayment.
• The balance will be used for general corporate operations.

GNI Infrastructure and Punjab Carbonic

Infrastructure entity GNI Infrastructure and gas solutions provider Punjab Carbonic have also secured approvals to tap primary markets.

GNI Infrastructure’s proposed IPO includes a fresh issue of up to 2.10 crore equity shares and an OFS of up to 93.88 lakh shares by existing shareholders and promoter entities. The proceeds from the fresh capital will be directed toward funding working capital needs and general corporate requirements.

Punjab Carbonic's public offering consists of a fresh issue of 60 lakh equity shares combined with an OFS of 35 lakh shares. The company intends to deploy the fresh capital to construct two carbon dioxide recovery units (CRUs) in Nellore and Peddapuram in Andhra Pradesh, as well as purchase dedicated CO2 transportation tankers to strengthen its logistics fleet.