Smart home appliances manufacturer Atomberg has initiated formal preparations for an initial public offering (IPO) and has appointed investment bankers for a public issue that could raise over ₹2,000 crore, according to a report by Moneycontrol.
The Mumbai-based company has finalised Avendus Capital and IIFL Capital as lead bankers for the proposed IPO. Atomberg is also in discussions with Axis Capital and ICICI Securities to appoint a third book running lead manager. While Avendus and IIFL have been confirmed, the company is expected to select one of the two remaining firms to complete the syndicate.
The proposed IPO is likely to comprise a mix of a fresh issue of shares and an offer for sale (OFS) by existing shareholders. Typically, such offerings involve a dilution of around 10% of total equity. If Atomberg raises close to ₹2,000 crore, it would imply a valuation of approximately ₹20,000 crore, or about $2.2 billion, though the final valuation and structure will depend on market conditions and investor appetite.
As per the report, Atomberg may file its draft red herring prospectus (DRHP) under the confidential route in January, with a potential stock market debut targeted for March or April 2026.
Founded in 2012 by Manoj Meena and Sibabrata (Shibam) Das, Atomberg designs and manufactures energy-efficient smart fans, mixer grinders, water purifiers and other household appliances. The company has raised over $150 million (around ₹1,700 crore) from investors including Temasek, A91 Partners, Steadview Capital and Jungle Ventures. It was last valued at about $450 million following an $86 million funding round in 2023.
Atomberg has reported consistent revenue growth of over 30% in recent years. For FY24, the company posted revenue of ₹865 crore, while recording a loss of ₹203 crore, according to Tracxn data.
The IPO move comes as Atomberg looks to scale manufacturing, expand distribution, and strengthen its position in India’s rapidly growing smart appliances market.
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