Atomberg Technologies has filed its Draft Red Herring Prospectus (DRHP) with SEBI for a proposed initial public offering, marking a significant milestone for the Mumbai-based consumer appliances company. Three of India’s leading law firms — Cyril Amarchand Mangaldas, JSA Advocates & Solicitors, and Khaitan & Co — have been confirmed as Atomberg IPO legal advisors on this transaction, acting for three distinct sets of stakeholders. The deal represents a notable moment for India’s deep-tech consumer electronics sector, with the IIT Bombay-incubated startup poised to access public capital markets.
Introduction
The proposed IPO comprises a fresh issuance of shares valued at ₹450 crore and an offer for sale of 76,541,851 shares by existing investors including A91 Partners, Jungle Ventures, Inflexor, Steadview Capital Mauritius, Temasek-backed V-Sciences Investments, and Survam Partners LLP. Atomberg Technologies Limited, a Mumbai-based consumer goods company, filed its DRHP with the mainboard exchange on 20 August 2026.
Founded by Manoj Meena in 2012, with Sibabrata Das joining as co-founder in 2013, Atomberg operates as an R&D-led consumer appliances company with a product portfolio including fans, mixer grinders, water purifiers, and cold-pressed juicers, all sold under the Atomberg brand. The book running lead managers for the issue are Avendus Capital Private Limited, ICICI Securities Limited, and IIFL Capital Services Limited, with MUFG Intime India Private Limited serving as Registrar to the IPO.
Deal Value
The issue comprises a fresh issue of equity shares aggregating up to ₹450 crore and an offer for sale of 76,542,051 equity shares of face value ₹10 each. The net proceeds from the fresh issue are proposed to be used towards ₹90 crore for repayment or prepayment of certain borrowings, ₹150 crore for brand awareness and performance marketing activities, and ₹100 crore for investment in research and development. The balance will be used for general corporate purposes.
Legal Teams Involved
Cyril Amarchand Mangaldas — Advising Atomberg Technologies
Cyril Amarchand Mangaldas is advising Atomberg on this IPO. The transaction is being led by Oishika Dasgupta (Partner), with support from Akash Joshi (Principal Associate), Adwait Deshmukh (Senior Associate), and Associates Devansh Raheja, Subhajit Chowdhury, Chinmay Jumde, and Syamantak Sinha. Yash J. Ashar (Senior Partner) provided strategic guidance.
JSA Advocates & Solicitors — Advising the Institutional Selling Shareholders
JSA Advocates & Solicitors is advising all seven of the institutional selling shareholders on this IPO. The transaction is being led by Arka Mookerjee (Partner), with support from Pracheta Bhattacharya (Partner), Kairav Parikh (Partner), Jeebitesh Bhattacharya (Senior Associate), and Bhuvnesh Kumar (Associate).
Khaitan & Co — Advising the Book Running Lead Managers
Khaitan & Co is advising the book running lead managers — ICICI Securities Limited, Avendus Capital Private Limited, and IIFL Capital Services Limited — on this IPO. The transaction team consists of Madhur Kohli (Partner), Vaibhav Mittal (Partner), Anshul Mordia (Senior Associate), Kanchi Malhotra (Senior Associate), and Associates Vanshika Singh, Dipsa Prasanth, Srishti Jain, and Subah Hindaria.
Significance and Impact
Atomberg’s proposed listing carries notable significance for multiple reasons. Atomberg Technologies filed its DRHP with SEBI for an IPO featuring a fresh issue of up to ₹450 crore and an offer for sale of up to 7.65 crore shares — the company was founded by IIT-Bombay graduates Manoj Meena and Sibabrata Das, who began by reinventing the ceiling fan with smart technology and energy-efficient BLDC motors.
The company is among the first IIT-incubated, deep-tech consumer appliance startups to go public in India, lending the transaction a degree of structural novelty in India’s capital markets landscape. Atomberg initially focused on selling energy-efficient BLDC fans to businesses before entering the consumer market in 2016, and now sells products through offline retailers, online marketplaces, and its own website, having expanded beyond fans into categories such as mixer grinders, water purifiers, and cold-pressed juicers.
The three-firm advisory structure — issuer counsel, selling shareholder counsel, and BRLM counsel each handled by a distinct top-tier firm — reflects the scale and complexity of the transaction. The involvement of Cyril Amarchand Mangaldas, JSA Advocates & Solicitors, and Khaitan & Co underscores the growing institutional depth of India’s capital markets practice. For further context on law firm deal activity, see the Deal Meter.
The Atomberg Technologies proposed IPO brings together three leading Indian law firms across a multi-stakeholder advisory structure, covering the issuer, institutional selling shareholders, and book running lead managers. The company’s revenue from operations advanced to ₹1,293.77 crore in FY2025–26 from ₹796.98 crore in FY2024, providing a financial backdrop to the proposed listing. The transaction remains subject to SEBI review and further regulatory approvals before proceeding to market.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
