Atomberg Technologies files DRHP for IPO to raise ₹450 crore through fresh issue

Atomberg Technologies has submitted its Draft Red Herring Prospectus to market regulator SEBI, seeking to raise ₹450 crore via an initial public offering (IPO). The company aims to utilize the funds for a variety of purposes, including repaying existing debt, enhancing brand visibility, bolstering research and development efforts, and general corporate needs.

Founded by Manoj Meena and Sibabrata Das, Atomberg specializes in consumer appliances like fans, mixers, water purifiers, and cold-pressed juicers, also supplying critical components to industrial partners such as Voltas, Godrej, and Blue Star. The company boasts the largest market share in India's high-end fan segment, with a 46.08% stake in terms of sales value for premium fans in FY26, according to Redseer.

Despite a growth in total revenue, Atomberg's adjusted EBITDA has declined, narrowing to ₹37.12 crore in FY26 from ₹51.35 crore in FY25. The IPO involves a fresh equity issue worth up to ₹450 crore and an offer for sale of 76.54 million shares. The proceeds will be allocated to debt repayment, marketing, and R&D, with the remainder for other corporate uses.

Atomberg has been aggressively expanding its market presence through both digital and physical sales channels, expanding its distributor network and retail outlets across various city tiers. The company also places significant emphasis on R&D, employing 254 engineers representing 25.32% of its permanent workforce and allocating 6.71% of revenue to R&D expenses. The bankers to the issue include ICICI Securities, Avendus Capital, and IIFL Capital Services.