Atomberg Files DRHP With For ₹450 Cr+ IPO

D2C consumer appliances startup Atomberg has filed its DRHP with market regulator SEBI for an IPO. The proposed IPO will comprise a fresh issue of shares worth up to ₹450 Cr and an OFS of up to 7.65 Cr equity shares by seven existing shareholders. 

A91 partners, Temasek Holdings, Inflexor Ventures, and Steadview Capital are among the investors looking to offload shares via the OFS. 

A91 Emerging Fund I LLP is the largest selling shareholder and will offer up to 3.77 Cr shares. Temasek-backed V-Sciences Investments will sell up to 1.22 Cr shares, while Jungle Ventures’ JV4 will offload up to 99.46 Lakh shares. 

Inflexor Opportunities Fund I and Inflexor Technology Fund will sell up to 49.4 Lakh and 38.5 Lakh shares, respectively. Steadview Capital Mauritius Limited will offer up to 45.38 Lakh shares, while Survam Partners LLP will sell up to 33.18 Lakh shares. 

Atomberg’s cofounders, Manoj Meena and Sibabrata Das, will not sell any shares through the OFS. 

The startup is also considering raising up to ₹90 Cr through a pre-IPO placement. If the placement is completed, the size of the fresh issue will be reduced by the amount raised. 

Atomberg plans to use ₹90 Cr from the fresh issue to repay or prepay certain borrowings. It has earmarked ₹150 Cr for brand awareness and performance marketing activities and ₹100 Cr for R&D. The remaining proceeds will be used for general corporate purposes. 

The Mumbai-based startup plans to deploy the IPO proceeds towards debt repayment, marketing, and R&D. The balance net proceeds will be utilised for general corporate purposes.

The filing comes days after Atomberg’s shareholders approved the proposed IPO at an extraordinary general meeting held on August 12. 

Inc42 previously reported that Atomberg was looking to launch an IPO worth ₹1,500–2,000 Cr, with the fresh issue expected to account for 25%-35% of the overall offering. 

Last month, Atomberg converted into a public company, changing the name of its parent entity from Atomberg Technologies Pvt Ltd to Atomberg Technologies Ltd. 

Founded by IIT Bombay alumnus Meena in 2012, Atomberg was joined by Das as cofounder in 2013. The startup initially focused on selling energy-efficient brushless direct current (BLDC) fans to businesses before entering the consumer market in 2016. 

Atomberg now sells its products through offline retailers, online marketplaces, and its own website. Over the years, it has 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.

The startup also operates a proprietary components business through its subsidiary, Atomberg Innovations. The subsidiary designs, manufactures, and supplies components such as motors and controllers to enterprise customers, including Voltas, Godrej, and Blue Star. 

Last week, Tata Group-owned Voltas signed a binding term sheet with Atomberg Innovations to explore setting up an equal joint venture to manufacture compressors and related components for room air conditioners in India. 

Atomberg has raised about $126.5 Mn in funding to date.

Atomberg Narrows Adjusted EBITDA Loss

On the financial front, Atomberg’s operating revenue grew 34.8% to ₹1,293.8 Cr in FY26 from ₹959.5 Cr in FY25.

The startup’s adjusted EBITDA loss narrowed 27.7% to ₹37.1 Cr from a loss of ₹51.4 Cr in FY25. Its adjusted EBITDA margin improved to -2.87% from -5.35%.

However, Atomberg’s net loss widened 26.5% to ₹149 Cr in FY26 from ₹117.8 Cr in the previous fiscal year.

The startup’s R&D expenses stood at 6.71% of its revenue in FY26 as against 6.85% in FY25.

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