Atomberg Technologies has taken a major step towards its planned initial public offering (IPO) by becoming a public limited company. The homegrown consumer appliance brand has also strengthened its board by appointing independent directors, showing its focus on better corporate governance before entering the stock market.
The company is also making several business changes, including a leadership reshuffle and the separation of its engineering business. These moves come as Atomberg continues to grow its revenue and move closer to profitability.
Founded in 2012 by IIT Bombay graduates Manoj Meena and Sibabrata Das, Atomberg first started as a supplier of Brushless Direct Current (BLDC) motor technology. In 2016, it entered the consumer market with energy-efficient BLDC ceiling fans. Today, the company has expanded into several home appliance categories and has become one of India’s leading smart appliance brands.
Atomberg Strengthens Board Ahead of IPO
As part of its IPO plans, Atomberg has officially changed its status from a private company to Atomberg Technologies Limited. The company has also appointed three independent directors to strengthen its board before the public listing.
The new directors are former IIT Bombay Director Subhasis Chaudhuri, former Freshworks Chief Human Resources Officer Suman Gopalan, and former UPL Chief Financial Officer Anand Vora.
According to reports, Atomberg is planning to launch its IPO during the January-March quarter. The company is expected to raise more than ₹2,000 crore through a mix of fresh shares and an Offer-for-Sale (OFS).
Avendus Capital and IIFL Capital have been appointed as the lead investment bankers for the IPO, while another investment bank may also join the process. The company is aiming for a valuation of around ₹20,000 crore after the public issue.
Along with the IPO preparations, Atomberg is also completing a ₹40 crore secondary share sale. This transaction will allow some founders, early investors and former employees to sell a part of their shares while helping the company simplify its shareholding structure before listing.
Revenue Crosses ₹1,000 Crore While Losses Reduce
Atomberg has continued to report strong business growth over the last few years.
In FY25, the company crossed the ₹1,000 crore mark in total income. It earned ₹958.4 crore from operations, while the remaining income came from other sources.
Although the company is still making losses, its financial performance improved during the year. Net loss fell by around 41% to ₹117.4 crore, mainly because the company reduced employee-related expenses.
Raw materials remained the company’s biggest cost, followed by spending on advertising and warranty services. However, its EBITDA margin improved, showing that the business is moving towards better profitability.
Atomberg follows an omnichannel sales model. Around 70% of its revenue comes from offline stores through a network of more than 30,000 retail outlets across India. The remaining 30% comes from its own website, online marketplaces and quick-commerce platforms.
The company is best known for its BLDC ceiling fans, which use much less electricity than traditional fans. It has also expanded into mixer grinders, juicers, smart locks and other smart home appliances. Its Intellon Water Purifier has also gained attention for using adaptive technology that helps save water while keeping important minerals in the drinking water.
Leadership Changes Support Future Growth
As part of its long-term strategy, Atomberg has divided its business into two separate verticals.
Co-founder Sibabrata Das has become the Chief Executive Officer (CEO) of the consumer appliances business. He will now lead the company’s fan, kitchen appliance and smart home product divisions.
Co-founder Manoj Meena has taken over as Chairman and Managing Director (CMD) of Atomberg Innovation, the company’s engineering business. This division develops motors, controllers and compressors for products such as air conditioners, refrigerators and washing machines. It also works on industrial and defence projects.
The engineering business has already set up a large manufacturing facility in Pune under the government’s Production Linked Incentive (PLI) scheme. The company has also introduced an indigenously designed AC rotary compressor, which supports India’s goal of increasing local manufacturing and reducing dependence on imports.
Atomberg is now separating this engineering business from its consumer business and plans to raise around ₹150-200 crore for the new entity. The engineering business is expected to be valued between ₹1,500 crore and ₹1,700 crore.
At present, the engineering division contributes only a small part of the company’s revenue. However, company officials believe it has the potential to become one of Atomberg’s biggest growth drivers in the coming years.
With stronger corporate governance, improving financial performance, new leadership roles and continued expansion into smart home appliances and engineering, Atomberg is moving ahead with its IPO plans and aiming to strengthen its position in India’s growing consumer technology market.