Atomberg plans over €450M IPO

Consumer appliance startup Atomberg has received board approval to raise over €450 million through an initial public offering (IPO). The company's board passed a special resolution for the public issue during an extraordinary general meeting last week.

The proposed IPO will consist of a mix of fresh equity issuance and an offer for sale by existing shareholders, pending market conditions and regulatory approvals. Atomberg is also exploring a pre-IPO placement of equity shares to raise up to €90 million.

Founded in 2012 by IIT Bombay alumni, Atomberg initially focused on energy-efficient BLDC fans before expanding into other consumer appliances like mixer grinders and water purifiers. The company sells its products through its website, e-commerce platforms, and offline channels.

In its latest financial disclosures, Atomberg reported a reduction in net losses by 41% to €117 million for the fiscal year ending March 2024, while operating revenue grew over 20% to €958.4 million.