A91 Partners is set to realise a substantial return from its investment in Atomberg Technologies, a home appliance manufacturer expanding into a public listing, with early shareholders cashing out prior to the company’s anticipated ₹450 crore IPO amid rapid revenue growth and ongoing losses.
A91 Partners is poised to make a hefty return from Atomberg Technologies as the consumer appliances maker moves towards a stock market listing, after selling shares worth about ₹445 crore, according to Atomberg’s draft red herring prospectus. The fund first invested in the company in 2019 and has put in roughly ₹143 crore altogether, split between primary capital and purchases from existing shareholders, yet it still remains Atomberg’s biggest shareholder with a 21.02 per cent stake.
The filing shows how much early backers have already cashed in before the initial public offering. Since 2019, existing shareholders have sold shares worth about ₹683 crore in total. Parampara Early Stage Opportunities Fund has been the next-largest seller, with disposals of around ₹116 crore, while founders Manoj Meena and Sibabrata Das have also trimmed their holdings.
Atomberg began life as a maker of energy-efficient BLDC ceiling fans and has since broadened into kitchen and home appliances, including mixer grinders, water purifiers and cold-pressed juicers. The company has also been building a components business through Atomberg Innovations, supplying motors, controllers and related parts to other manufacturers as India pushes to localise more of its electronics and appliance supply chains, according to a report by Mint.
The company’s latest filing comes as it prepares a ₹450 crore fresh issue alongside an offer for sale of 76.54 million shares. Kotak Neo said Atomberg may also raise up to ₹90 crore in a pre-IPO placement, which would reduce the fresh issue size if completed. The IPO proceeds are expected to be used for debt reduction, brand building and research and development, while Atomberg continues to chase growth in a competitive market.
Financially, the business has been expanding quickly but is not yet profitable. Revenue from operations rose 34.8 per cent to ₹1,293.77 crore in FY26 from ₹959.51 crore a year earlier, but the company still reported a restated loss of ₹148.88 crore, according to the DRHP. Separate reports have also said Atomberg has converted into a public company and is lining up for a larger fundraising plan, underscoring how the listing process is still evolving.
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