Temasek Holdings Pte-backed Atomberg Technologies Pvt. is weighing an initial public offering in Mumbai that may raise around $200 million, according to people familiar with the matter.
The Indian consumer electronics firm, which also counts Steadview Capital Management LLC and Jungle Ventures Pte among its backers — has held discussions with investment banks recently about a potential listing and is expected to appoint advisers in the coming weeks, the people said, asking not to be identified as the information is private.
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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.
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A representative for Atomberg didn't 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 $19.6 billion so far this year, following a record $21 billion in 2024, according to data compiled by Bloomberg.
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, according to its website.
In 2023, Atomberg raised $86 million from investors including Temasek, Steadview Capital, Jungle Ventures and Inflexor Ventures through a mix of primary and secondary transactions, according to Avendus Capital Pvt., which advised on the deal.
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