Ahead of a potential IPO, consumer appliances startup Atomberg has converted into a public entity, the routine first step towards going IPO.
Its shareholders approved a special resolution to change the name of its parent entity from Atomberg Technologies Pvt Ltd to Atomberg Technologies Ltd, as per the startup’s MCA filings accessed by Inc42.
Atomberg is planning to launch its listing later this year, sources shared with Inc42 earlier. Its IPO is likely to comprise a combined fresh issue of shares (25-35%) and an offer for sale (OFS) by existing investors.
Through its IPO, Atomberg will aim to raise ₹1,500-2,000 Cr ($165-220 Mn) to be used for capital expenditure, debt repayment, and fuel marketing and promotional activities.
The startup was also looking to raise ₹40 Cr (about $4.8 Mn) in a pre-IPO round earlier last year at a valuation of ₹600 Mn. The status of the deal is yet to be discerned.
Founded in 2012 by IIT Bombay alumni Manoj Meena and Sibabrata Das, Atomberg started off as a company selling energy-efficient BLDC fans. It initially began with a B2B model before entering the consumer market in 2016.
Atomberg’s products are designed and manufactured locally and sold via offline retailers, online marketplaces and its own website.
While the startup has expanded into new categories like mixer grinders, water purifiers, and small appliances, fans remain the core of its product portfolio driving the largest share of its revenue.
It also recently entered the B2B manufacturing business through a subsidiary, Atomberg Innovation Private Limited, to build motors and controllers for home appliances.
Atomberg 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.
In FY25, the company reported a net loss of ₹117 Cr, down 41% from the previous year. In the same year, its operating revenue jumped over 20% to ₹958.4 Cr while expenses rose 9% to ₹1,118.3 Cr.
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