IIT Bombay graduate-founded Atomberg Technologies plans $200 million IPO: Report

Atomberg Technologies, a consumer electronics company founded by IIT Bombay graduates Manoj Meena and Sibabrata Das, is planning for an IPO that could raise around $200 million, according to a Bloomberg report.

The report said that the company has initiated discussions with investment banks regarding the potential listing and is expected to appoint advisers in the coming weeks.

The proposed IPO is likely to include a combination of new share issuance and a secondary sale by existing investors, and could be launched as early as next year. The listing could come as early as next year, depending on market conditions, the report said.

Atomberg’s plan comes at a time when India’s primary market remains strong. Companies have raised around $19.6 billion so far this year, following a record $21 billion in 2024, according to Bloomberg data.

Founded in 2012 by Manoj Meena and Sibabrata Das, the Mumbai-based firm began by manufacturing energy-efficient fans. Over time it has expanded into mixer grinders, water purifiers and smart locks, aiming to build a broad consumer electronics platform.

In 2023, Atomberg raised $86 million from Temasek, Steadview Capital, Jungle Ventures and Inflexor Ventures through a mix of primary and secondary transactions. Avendus Capital advised on the deal.

If the IPO goes ahead, Atomberg will join a rising group of technology companies who already got listed, including Lenskart, Groww, and Ather Energy.