SEBI Greenlights Atomberg’s ₹450 Cr IPO
Markets regulator Securities and Exchange Board of India (SEBI) has cleared the ₹450 Cr IPO of consumer appliances company Atomberg…
Securities and Exchange Board of India (SEBI) has approved the ₹450 crore Initial Public Offering (IPO) of Atomberg, a consumer appliances company. SEBI issued its final observation letter to Atomberg on October 30, following the company's submission of its draft IPO papers several months prior. This marks the regulator's formal approval for Atomberg to proceed with its public offering.
Atomberg's draft IPO includes a fresh issue of equity shares worth up to ₹450 crore and an Offer for Sale (OFS) of up to 7.65 crore equity shares. The company intends to utilize the IPO proceeds for various purposes, such as repaying borrowings, brand promotion, research and development, and general corporate needs. Atomberg's investors, including A91 partners, Temasek Holdings, and Inflexor Ventures, plan to reduce their stake in the company through the IPO.
Atomberg, founded in 2012 by Manoj Meena and Sibabrata Das, manufactures consumer appliances like ceiling fans, mixer grinders, water purifiers, and cold-pressed juicers. It also supplies proprietary components, including motors and controllers, to enterprise customers such as Voltas, Godrej, and Blue Star through its subsidiary, Atomberg Innovations.
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