Atomberg Technologies has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), including a fresh issue of shares worth up to Rs 450 crore. The IPO also comprises an offer-for-sale (OFS) of 7.65 crore equity shares.
The company plans to use fresh proceeds of Rs 150 crore for brand awareness and performance marketing, Rs 100 crore for investments in research and development and Rs 90 crore to repay or prepay certain borrowings. The remaining proceeds will be used for general corporate purposes. ICICI Securities, Avendus Capital and IIFL Capital Services are the book-running lead managers to the issue.
Atomberg Technologies develops technology-led consumer appliances such as mixer grinders, water purifiers and cold-pressed juicers under the Atomberg brand.
