Atomberg nears IPO after early investors, founders sell ₹683 crore in shares
Atomberg’s early shareholders have sold ₹683 crore of secondary shares since 2019, led by A91 Emerging Fund I’s ₹445 crore exit. The fan and home-appliance maker reported FY26 revenue of ₹1,293.77 crore, up 34.8%, while adjusted EBITDA turned positive at ₹37.12 crore.
What happened
Atomberg’s early shareholders sold Rs 683 crore in secondary shares since 2019, led by A91’s Rs 445 crore sale, as newer institutions entered. The Indian
Key facts
- Rs 683 crore secondary shares sold since 2019
- A91 Emerging Fund I sold Rs 445 crore
- Parampara Early Stage Opportunities Fund sold Rs 116 crore
- Founders sold Rs 71.6 crore collectively
- FY26 revenue Rs 1,293.77 crore, up 34.8% year-on-year
- FY26 adjusted EBITDA Rs 37.12 crore versus negative Rs 51.35 crore in FY25
- FY25 net loss Rs 149 crore
- A91 Partners retains 21.02% stake
Why this matters
Atomberg’s approaching IPO and improving profitability strengthen its position as a potential strategic partner or public-market benchmark in home appliances.
What to watch
- DRHP filing, appointment of merchant bankers, or disclosure of a pre-IPO financing round.
- FY27 revenue growth remaining above 25% while adjusted EBITDA margin expands from roughly 2.9%.
- Evidence that profitability is supported by operating leverage rather than reduced marketing or deferred spending.
- Changes in promoter ownership and further exits by A91 Emerging Fund or other early shareholders.
- Offline store additions, distributor expansion and growth in non-fan appliance revenue.
- Competitive pricing and marketing actions from Crompton, Havells, Bajaj Electricals and other fan manufacturers.
- Input-cost movement in copper, aluminum, electronic components and BLDC motor supply chains.
- Formalize IPO governance, board composition, audit controls and public-company reporting processes.
- Use profitability momentum to expand offline retail reach, especially in Tier 2 and Tier 3 cities where premium fan penetration remains lower.
- Increase cross-selling beyond fans into adjacent home-appliance categories to raise customer lifetime value and reduce dependence on a seasonal core category.
- Lock in component and motor supply arrangements to protect gross margins against commodity, electronics and currency volatility.
- Balance founder and early-investor liquidity with a sufficiently large continuing shareholder base ahead of any public offer.