D2C consumer appliance startup Atomberg’s board approved raising over ₹450 crore through an initial public offering (IPO) during an extraordinary general meeting held on August 12, according to disclosures filed with the Ministry of Corporate Affairs (MCA). The IPO will include fresh equity issuance and an offer for sale by existing shareholders, subject to market conditions and regulatory approvals from SEBI. Additionally, the board approved raising up to ₹90 crore via a pre-IPO placement of equity shares.
The pre-IPO placement will reduce the fresh issue portion of the IPO by the amount of equity shares issued in the placement, provided the offer meets minimum size requirements under the Securities Contracts (Regulation) Rules (SCRR) and applicable laws, the filings stated. This move follows Atomberg’s conversion into a public entity a few weeks prior, marking a key step toward becoming a publicly listed company. The company had earlier planned to raise ₹40 crore in a secondary funding round led by Forj Capital, cofounder Sibabrata Das told Inc42 last year.
Founded in 2012 by IIT Bombay alumni Manoj Meena and Sibabrata Das, Atomberg initially focused on B2B sales of energy-efficient BLDC fans before entering the consumer market in 2016. The proposed IPO and pre-IPO placement come amid growing investor interest in consumer appliance startups, with Atomberg positioning itself as a notable player in the energy-efficient fan segment. The size of the potential pre-IPO transaction is significantly larger than previously anticipated, indicating strong investor appetite.
Atomberg’s board approval on August 12 sets the stage for the company’s public listing, pending SEBI clearance and market conditions. The startup’s filings with the MCA confirm the intent to raise ₹450 crore via IPO and ₹90 crore through pre-IPO placement, marking a critical milestone in its fundraising journey.