Smart fan maker Atomberg picks bankers for ₹2,000cr IPO
15 Dec 2025

Atomberg, a start-up specializing in smart fans, mixer grinders, and water purifiers, has initiated preparations for an initial public offering (IPO).

The company has appointed Avendus Capital and IIFL Capital as its lead bankers for the proposed IPO. It is also in talks with Axis Capital and ICICI Securities to finalize a third banker.

Atomberg's IPO will include both a fresh issue of shares and an offer-for-sale (OFS) component.

IPO could value company at ₹20,000cr
Valuation potential

The upcoming IPO from Atomberg could see investors and other stakeholders dilute about 10% of their total equity.

If the company manages to raise around ₹2,000 crore through this process, it would value Atomberg at approximately ₹20,000 crore ($2.2 billion).

However, these details are still subject to change as negotiations progress and final decisions are made on the IPO structure and valuation.

Draft papers to be filed in January
Filing timeline

Atomberg is expected to file its draft IPO papers, possibly under a confidential route, in January. The company hopes to get listed by around March or April 2026.

Since its inception in 2012 by Manoj Meena and Sibabrata Das, Atomberg has raised over $150 million from investors such as Temasek, A91 Partners, Steadview Capital, and Jungle Ventures.

Financial performance and market presence
Business growth

Atomberg has maintained a steady growth rate of over 30% in recent years.

The company ended FY24 with revenue of ₹865 crore and a loss of ₹203 crore, according to Tracxn, a private markets data provider.

The Mumbai-based firm is the latest addition to the list of companies looking to tap into India's thriving IPO market.