Atomberg Approves Rs 450 Crore Fresh Issue as IPO-Bound Smart Appliances Maker Eyes Rs 2,000 Crore Listing

Atomberg Technologies, the Mumbai-based smart appliance startup backed by Temasek, has received shareholder approval at an extraordinary general meeting held on August 12 to raise up to Rs 450 crore through a fresh equity issue. The approval is accompanied by authorization for up to Rs 90 crore in pre-IPO placement capital ahead of the company's planned Rs 2,000 crore public listing on Indian exchanges. Avendus Capital and IIFL Capital have been mandated as investment bankers for the offering.

From BLDC Fans to a Full Appliance Platform

Atomberg was founded in 2012 by Manoj Meena and Sibabrata Das, initially focused on BLDC motor-powered ceiling fans that consume up to 65% less electricity than conventional fans. The energy efficiency positioning resonated in a market where electricity tariffs have remained a household pain point, and the company scaled to become the number one BLDC fan brand in India with over one crore units sold. Atomberg has since expanded into mixer grinders, smart locks, water purifiers, and a broader range of connected home appliances, positioning itself as a full-stack consumer brand rather than a single-category product company.

Financial Performance

Atomberg crossed Rs 1,000 crore in total income in FY25, reaching the revenue threshold that makes an Indian exchange listing viable under SEBI's profitability track record requirements for mainboard IPOs. Net loss narrowed 41% year-on-year to Rs 117.4 crore in FY25, reflecting improving unit economics as the distribution network and manufacturing scale have grown. The company has raised over $150 million in total, with investors including Temasek, Steadview Capital, Jungle Ventures, and Inflexor Ventures.

The IPO Timeline

Atomberg has converted into a public limited company and appointed three independent directors, including Subhasis Chaudhuri (former Director, IIT Bombay), Suman Gopalan (former Chief Human Resources Officer, Freshworks), and Anand Vora (former Chief Financial Officer, UPL). These appointments are the governance steps that typically precede a draft red herring prospectus filing with SEBI. The EGM-approved Rs 450 crore fresh issue is expected to fund manufacturing expansion and distribution buildout, while the Rs 90 crore pre-IPO placement will provide additional capital before the public listing window opens.

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