Atomberg DRHP: A Look At Shareholding Pattern & Key Personnel

Consumer appliances brand Atomberg filed its draft IPO papers with market regulator SEBI, for a proposed public issue comprising a fresh issue of shares worth up to ₹450 Cr and an offer for sale (OFS) of up to 7.65 Cr equity shares.

Institutional investors A91 Partners, Temasek Holdings, Inflexor Ventures, and Steadview Capital intend to dilute their stake in the company via the IPO. Including the selling shareholders, the company has a total of 69 shareholders till date.

A91 Partners holds the highest stake of 21.02% in the company via holding entity A91 Emerging Fund I. The investor first backed the startup in 2019, as part of its Series A funding round of $10 Mn, along with Whiteboard Capital and Survam Partners, back then.

Following A91, cofounders Manoj Kumar Meena and Sibabrata Das own 17.73% and 10.02%, respectively. Meena and Das are not selling any shares in the IPO. 

Meanwhile, Temasek, via its holding entity V-Sciences Investments, commands 11.8% ownership in Atomberg. While Jungle Ventures (JV4) holds 10.03%, Steadview Capital Mauritius and Jongsong Investments own 7% and 6.98% in the company, respectively,

Further, Inflexor Ventures, via Inflexor Opportunities Fund I and Inflexor Technology Fund, holds 6.08% ownership in Atomberg.

Founded in 2012 by Meena and Das, Atomberg initially focused on selling energy-efficient brushless direct current (BLDC) fans to businesses before entering the consumer market in 2016. 

It has since then expanded beyond fans into categories such as mixer grinders, water purifiers, and cold-pressed juicers. However, fans continue to be its largest revenue-generating product category.

Atomberg now sells its products through offline retailers, online marketplaces, and its own website. 

The company obtained the board approval for its public listing, about a week ago. Additionally, the board also approved the raise of up to ₹90 Cr via a pre-IPO placement of equity shares. 

On the financial front, the consumer appliances company saw its consolidated net loss widen 26.8% to ₹148.9 Cr in FY26 from ₹117.4 Cr in the previous fiscal year. Operating revenue jumped 34.8% to ₹1,293.8 Cr in the year under review from ₹959.5 Cr in FY25. 

A Break Down Of Atomberg’s Leadership Deck

Board of Directors

Manoj Kumar Meena

Meena is the managing director and chairman of the company. He founded Atomberg and headed the company as its chief executive for the first 14 years. 

Sibabrata Das

Das is the CEO and executive director of Atomberg. He cofounded the company along with Meena and headed as the chief operating officer till 2025. Prior to that, he was the CEO for almost a year of online personal care brand 24×7 Styles.

Abhay Kumar Pandey

A91 Partners’ general partner Pandey is the nominee director on Atomberg’s board. While he has been a general partner at A91 Partners for nearly eight years, he previously worked with Peak XV Partners for over 11 years. He has been part of the boards of companies like Awfis, Bira 91, curatio, among others.

Anand Kantilal Vora

United Phosphorus Ltd’s CFO Vora is an independent director on Atomberg’s board. Over a finance career spanning nearly four decades, Vora has worked with companies like Dow Chemical & Dow AgroSciences, Ranbaxy Brazil and HTMT Global Solutions.

Suman Gopalan

Gopalan, who has been the managing partner at Rivendell Advisory for over two years, has been on the board of Atomberg for about four months as an independent director. Previously, she has also worked with Freshworks as chief HR officer for about five years.

Subhasis Chaudhuri

Chaudhur, also an independent director at Atomberg, has been a full time professor at IIT Bombay since 1990. Besides, he is currently the chairperson of BSE’s board, a position he has held for nearly two years.

Key Managerial Personnel

Manish Kumar Bansal

Bansal is the chief financial officer of the company for nearly four years. Prior to this stint, he was working with L’Oreal for more than six years. Holding an overall experience of 20 years, he previously worked with Marico and kaya skin care.

Priti Baria

Joined on November 11, 2024 as manager of legal function, Baria is now the lead of legal, company secretary and compliance officer at Atomberg. Prior to this, she worked with WestRock Company as India legal and company secretary for over a year. She holds an overall experience of 15 years, working with companies like Bajaj Consumer Care, Knight Frank India and Parker Hannifin, among others.

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