Temasek-backed Atomberg is said to plan $200 Million India IPO

Atomberg Technologies Weighs $200 Million IPO in Mumbai

Atomberg Technologies Pvt., backed by Temasek Holdings Pte., is reportedly considering an initial public offering (IPO) in Mumbai that may raise around $200 million.

• The Indian consumer electronics firm has held discussions with investment banks about a potential listing.
• Atomberg is expected to appoint advisers in the coming weeks.

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.

A representative for Atomberg did not respond to a request for comment.

India's IPO Market Sees Growth

Atomberg is among a growing number of companies seeking to tap India's buoyant IPO market, where firms have raised about $19.6 billion so far this year.

In 2024, India's IPO market reached a record $21 billion, according to data compiled by Bloomberg.

About Atomberg Technologies

Founded in 2012 by Manoj Meena and Sibabrata Das, the Mumbai-based company began by manufacturing fans and has since expanded its portfolio to include mixer grinders, water purifiers, and smart locks, according to its website.

• In 2023, Atomberg raised $86 million from investors including Temasek, Steadview Capital, Jungle Ventures, and Inflexor Ventures.
• The company used a mix of primary and secondary transactions, advised by Avendus Capital Pvt.

Atomberg Technologies is a well-established player in the Indian consumer electronics market, with a diverse portfolio of innovative products.