Aug 21: Atomberg Technologies Limited has filed its Draft Red Herring Prospectus with market regulator Securities and Exchange Board of India for its IPO.
The IPO comprises of a fresh issue of Equity Shares of face value of ₹10 each aggregating up to ₹450 Crores and an offer for sale of 76,542,051 equity shares of face value ₹ 10 each.
The Company proposes to utilise the Net Proceeds primarily towards ₹90 Crores for repayment/prepayment, in full or in part, of certain borrowings, ₹150 Crores towards brand awareness and performance marketing activities, and ₹100 Crores towards investment in research and development. The balance Net Proceeds will be utilised for general corporate purposes.
Founded by Manoj Meena in 2012 and subsequently joined by Sibabrata Das as co-founder in 2013, Atomberg is a deep-tech, research and development -led company that builds next-generation consumer appliances including mixer grinders, water purifiers and cold-pressed juicers for Indian households under the “Atomberg” brand. The company also designs, manufactures and supplies proprietary and critical components, including motors and controllers, to enterprise customers such as Voltas, Godrej and BlueStar across industries through its subsidiary, Atomberg Innovations Private Limited. Its operations are divided into two segments: the Consumer Appliance Business and the Proprietary Components segment.
Atomberg holds the highest market share in India’s premium fans segment, defined as fans with an average selling price above ₹3,500, among scaled consumer appliance companies. Water Purifiers is the newest product in the Kitchen Appliances segment, introduced in 2025. In FY2026, Atomberg commanded an approximately 46.08% market share by cumulative sales value at market operating price, according to the Redseer Report. Its technology-led product development is also reflected in reliability, with Atomberg recording the lowest product failure rate for its next-generation BLDC ceiling fan portfolio in FY2026 among scaled consumer appliance companies in India, highlighting the strength of its technology platform and integrated manufacturing quality-control processes. The company is the fastest-growing company among listed scaled consumer appliance companies in India by revenue from operations between the Financial Years 2024 and 2026.
Atomberg sells its products through an omni-channel distribution model spanning offline channels such as general trade distributors, retailers, modern trade chains and institutional partners, and online channels including e-commerce marketplaces, quick-commerce platforms and atomberg.com.
As of March 31, 2026, its general trade network comprised approximately 626 distributors and direct dealersand 46,932 retail touchpoints across around 1,600 cities and towns, with presence across all Indian states. Its service network covered over 18,000 Indian pin codes, supported by trained in-house agents and third-party providers for installation and after-sales service across categories.
In FY26, Tier 2+ cities contributed the largest share of Atomberg’s offline consumer appliance business revenue at 49.57%, followed by metropolitan cities at 30.91% and Tier 1 cities at 19.52%, reflecting broad geographic sales diversity.
Atomberg operates two leased manufacturing facilities in Pune, Maharashtra, supporting its Consumer Appliances and Proprietary Components businesses. Its Chakan Facility, which commenced operations in FY2022 and spans over 2,83,000 square feet, manufactures ceiling fans, table, pedestal and wall fans, exhaust fans, mixer grinders, cold-pressed juicers and smart locks. Its Chakan-Varale Facility, operated by AIPL, spans approx. 159,000 square feet and manufactures proprietary motors, electronic assemblies and related components for OEMs across appliance sectors, with capabilities including EMS, automated motor assembly, vertical injection molding, BMC molding, stator winding and rotor assembly.
Atomberg has consistently invested in innovation-led product development, supported by a robust R&D team of 254 engineers, representing 25.32% of its permanent workforce as of March 31, 2026. In FY2026, the company incurred R&D expenditure of ₹86.79 Crores, equivalent to 6.71% of revenue from operations. According to the Redseer Report, this was the highest R&D spend as a percentage of revenue among listed scaled consumer appliance companies in India, significantly above the peer average of less than approximately 1%, underscoring Atomberg’s strong focus on technology and product innovation.
Revenue from operations stood at ₹1293.77 Crores in FY2026, compared with ₹959.51 Crores in FY2025 and ₹796.98 Crores in FY2024. Adjusted EBITDA stood at ₹37.12 Crores in FY2026, compared with ₹51.35 Crores in FY2025 and ₹152.07 Crores in FY2024. Restated loss for the year has narrowed from ₹1,99.08 Crores for FY2024 to ₹148.88 Crores for the FY26.
Its revenue from online channels increased to ₹456.45 Crores in FY2026 from ₹234.51 Crores in FY2024, while offline channel revenue rose to ₹820.11 Crores from ₹562.47 Crores over the same period. Online channel contributed approximately 35.76% of the revenue from consumer appliances business, significantly higher than the online mix for peers
Atomberg operates in a structurally expanding TAM of approximately ~$4.60 billion in FY2026 across fans, kitchen appliances, water purification and smart home products, driven by rising incomes, urbanization, premiumization and demand for energy-efficient technologies. Key adjacent categories such as water purifiers and motorized food preparation remain underpenetrated and are seeing rapid premiumization.
ICICI Securities Limited, Avendus Capital Private Limited and IIFL Capital Services Limited formerly known as IIFL Securities Limited are the bankers to the issue.