Temasek-backed Atomberg said to be planning US$200 million India IPO

[MUMBAI] Temasek-backed Atomberg is weighing an initial public offering (IPO) in Mumbai that may raise around US$200 million, sources said.

The Indian consumer electronics firm, which also counts Steadview Capital and Jungle Ventures among its backers, has held discussions with investment banks recently about a potential listing.

It is expected to appoint advisers in the coming weeks, sources said, asking not to be identified as the information is private.

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 did not 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 of US$21 billion in 2024, said Bloomberg.

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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, based on its website.

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, said Avendus Capital, which advised on the deal. BLOOMBERG