Atomberg, a Mumbai-based consumer appliances company best known for its smart energy-efficient fans, has taken a decisive step towards going public. Founded in 2012 by Manoj Meena and Sibabrata Das, the company has spent over a decade building a differentiated brand in a crowded home appliances market by combining hardware with in-house technology and IoT-led features.

Over the years, Atomberg has expanded its product portfolio beyond fans into mixer grinders, water purifiers and other household appliances, positioning itself as a technology-led consumer durable brand rather than a traditional electrical goods manufacturer. This positioning has helped it attract marquee private investors including Temasek, A91 Partners, Steadview Capital and Jungle Ventures, with cumulative funding of more than $150 million.

The company was last valued at around $450 million in 2023, when it raised $86 million, and has since continued to scale operations rapidly, according to private market data provider Tracxn.

According to people familiar with the matter quoted by Moneycontrol, Atomberg has appointed Avendus Capital and IIFL Capital as lead bankers for a proposed initial public offering and is in the process of finalising a third banker between Axis Capital and ICICI Securities. The planned IPO size is over ₹2,000 crore, with a mix of fresh issue and offer-for-sale components.

The company is expected to file its draft red herring prospectus under SEBI’s confidential filing route around January 2026 and target a listing by March or April of that year. While the transaction structure broadly follows the standard IPO playbook, including partial dilution by existing shareholders, the final valuation and issue size will be determined much closer to the offering.

Based on typical dilution levels of around 10 percent, a ₹2,000 crore issue would imply a potential valuation of roughly ₹20,000 crore, though sources caution that pricing discussions are still at an early stage.