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Atomberg Technologies receives SEBI approval for Rs 450 crore IPO

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Atomberg Technologies receives SEBI approval for Rs 450 crore IPO

Founded in 2012 by Manoj Meena, with Sibabrata Das joining as co-founder in 2013, Atomberg operates in consumer appliances and proprietary components. Its consumer portfolio includes ceiling fans, mixer grinders, water purifiers, cold-pressed juicers and smart locks. Through its subsidiary, Atomberg Innovations, the company also manufactures motors, controllers and other components for enterprise customers, including Voltas, Godrej and Blue Star.

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Atomberg Technologies Limited has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering ( IPO ), comprising a fresh issue of equity shares worth up to Rs 450 crore and an offer for sale (OFS) of 76,542,051 equity shares, each with a face value of Rs 10.

The company plans to use Rs 90 crore from the fresh issue proceeds to repay or prepay certain borrowings, Rs 150 crore for brand awareness and performance marketing, and Rs 100 crore for research and development (R&D). The remaining proceeds will be allocated towards general corporate purposes. ICICI Securities, Avendus Capital and IIFL Capital Services are the book-running lead managers to the issue.

Founded in 2012 by Manoj Meena, with Sibabrata Das joining as co-founder in 2013, Atomberg operates in consumer appliances and proprietary components. Its consumer portfolio includes ceiling fans, mixer grinders, water purifiers, cold-pressed juicers and smart locks. Through its subsidiary, Atomberg Innovations, the company also manufactures motors, controllers and other components for enterprise customers, including Voltas, Godrej and Blue Star.


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