The IPO is likely to comprise a mix of new share issuance and secondary sales by existing investors, and could come as early as next year, they said.
A representative for Atomberg didn’t respond to a request for comment.
Atomberg is among a growing number of companies seeking to tap India’s buoyant IPO market, where firms have raised about US$19.6 billion so far this year, following a record US$21 billion in 2024, according to data compiled by Bloomberg.
Founded in 2012 by Manoj Meena and Sibabrata Das, the Mumbai-based company began by manufacturing fans and has since broadened its portfolio to include mixer grinders, water purifiers and smart locks, according to its website.
See also: Syngenta hiring banks for potential Hong Kong IPO, Bloomberg reports
In 2023, Atomberg raised US$86 million from investors including Temasek, Steadview Capital, Jungle Ventures and Inflexor Ventures, through a mix of primary and secondary transactions, according to Avendus Capital Pvt Ltd, which advised on the deal.
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