Atomberg Gets Board Nod To Raise Over ₹450 Cr Via IPO
Superadmin
D2C consumer appliance startup Atomberg’s board passed a special resolution to raise up to ₹450 Cr via an initial public offering (IPO) during an extraordinary general meeting (EGM) held last week, on August 12.
The proposed public issue will comprise a combination of fresh equity issuance and an offer for sale by existing shareholders, subject to market conditions and regulatory clearances from SEBI, as per the startup’s disclosures filed with the MCA.
Additionally, the startup’s board also approved the raise of up to ₹90 Cr via a pre-IPO placement of equity shares.
“In the event of a pre-IPO placement, the size of the offer would be reduced from the fresh issue portion to the extent of equity shares issued under the pre-IPO placement subject to the offer satisfying the minimum offer size requirements under the SCRR and applicable laws,” the filings read.
The development was first reported by Entrack.
The consumer appliance maker had taken the first step on its path of becoming a publicly listed company a few weeks ago by converting into a public entity.
Additionally, the size of its potential pre-IPO transaction appears to be significantly larger than earlier believed. Atomberg had earlier sought to raise ₹40 Cr in a secondary funding round led by Forj Capital, cofounder Sibabrata Das told Inc42 last year.
Founded in 2012 by IIT Bombay alumni Manoj Meena and Das, Atomberg began with B2B sales of energy-efficient BLDC fans before entering the consumer market in 2016. Since then, it has also further diversified into a range of product categories like mixer grinders, water purifiers, etc, though fans continue to generate the largest share of its revenue.
The startup sells its products via its own website, ecommerce platforms like Amazon and Flipkart, as well as via offline channels.
It has raised a total funding of about $126.5 Mn to date from investors like Inflexor Ventures, Trifecta Capital Advisors, Steadview Capital, Temasek Holdings, Jungle Ventures among others.
On the financial front, Atomberg reduced its net losses by 41% to ₹117 Cr in FY25. Meanwhile, its operating revenue jumped over 20% to ₹958.4 Cr while expenses rose 9% to ₹1,118.3 Cr. The startup is yet to disclose its financial results for the fiscal year FY26.
The post Atomberg Gets Board Nod To Raise Over ₹450 Cr Via IPO appeared first on Inc42 Media.
