Atomberg receives SEBI approval for ₹450 crore initial public offering
India’s market regulator has cleared Atomberg Technologies to proceed with a ₹450 crore IPO following a review of the firm’s draft prospectus.
The Securities and Exchange Board of India (SEBI) issued its observation letter to appliance manufacturer Atomberg on October 30, granting the company formal authorization to move forward with its public offering. The approval follows the firm's submission of its draft red herring prospectus earlier this year.
The proposed IPO includes a primary share issuance of up to ₹450 crore alongside an offer for sale featuring 7.65 million equity shares from existing institutional investors. Stakeholders participating in the divestment include A91 Partners, Temasek Holdings, and Inflexor Ventures.
Atomberg intends to allocate the proceeds primarily toward debt reduction, brand marketing, and research and development initiatives. Specifically, the firm plans to dedicate ₹90 crore to repaying existing borrowings, ₹150 crore to marketing efforts, and ₹100 crore to R&D activities to bolster its appliance lineup.
Founded in 2012, the company specializes in consumer appliances such as ceiling fans and mixer grinders, while also supplying proprietary motor technology to corporate clients like Voltas and Blue Star. The listing follows a period of expansion for the manufacturer, which continues to integrate its R&D efforts into its core product strategy.