Atomberg Files IPO Plans With SEBI Valued Over ₹450 Cr
Consumer appliance startup Atomberg has filed its draft IPO papers with SEBI. The company seeks to raise capital through a public offering valued at over 450 crore Indian rupees.
Indian direct-to-consumer appliance startup Atomberg has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The company aims to raise funds through a public offering valued at over 450 crore Indian rupees.
The proposed IPO includes a fresh issue of shares worth up to ₹450 crore, alongside an Offer for Sale (OFS) of up to 7.6 crore shares. Several existing investors, including A91 Partners, Temasek Holdings, Inflexor Ventures, and Steadview Capital, are expected to divest portions of their stakes through the OFS.
Atomberg is also considering a pre-IPO placement of up to ₹90 crore. The company plans to utilize the proceeds from the IPO primarily for debt repayment, marketing initiatives, and research and development. Any remaining funds will be allocated for general corporate purposes.
The decision to proceed with the IPO was approved by the company's board during an extraordinary general meeting held on August 12. This move signifies a significant step in Atomberg's growth trajectory within the consumer durables market.