Atomberg Technologies’ early investors, founders and other shareholders have sold shares worth around ₹683 crore through secondary transactions since 2019, according to disclosures in the consumer-appliance company’s draft red herring prospectus (DRHP) filed ahead of its proposed initial public offering. The transactions provide a detailed look at how the company’s ownership has evolved from its early funding years to its current IPO stage.
A91 Emerging Fund I LLP was the largest seller, offloading shares worth around ₹445 crore over the period. Parampara Early Stage Opportunities Fund Series I sold another ₹116 crore worth of shares, while co-founders Manoj Kumar Meena and Sibabrata Das sold shares worth a combined ₹71.6 crore. Importantly, the ₹683 crore figure represents secondary transactions between existing and new shareholders, rather than money raised by Atomberg itself.
₹683 Crore In Secondary Sales Since 2019
The disclosed transactions show that Atomberg’s early shareholders have gradually monetized part of their holdings as the company attracted new institutional investors and moved closer to a public listing.
Unlike a primary funding round, secondary transactions do not bring fresh capital into the company. Instead, an existing shareholder sells shares to another investor, with the sale proceeds going to the seller.
Atomberg Secondary Sales At A Glance
| Metric | Amount / Detail |
|---|---|
| Total disclosed secondary sales since 2019 | About ₹683 crore |
| A91 Emerging Fund I sales | About ₹445 crore |
| Parampara Early Stage Opportunities Fund Series I | About ₹116 crore |
| Founder sales | About ₹71.6 crore |
| Number of disclosed sellers | 14 |
| Number of disclosed buyers | 19 |
| Transaction type | Secondary share sales |
| Company receiving sale proceeds | No |
| Proposed IPO fresh issue | ₹450 crore |
The founder sale figure should not simply be added to the ₹683 crore total because about ₹59 crore of promoter transactions are already included in the broader secondary-sale figure disclosed in the DRHP.
A91 Partners Sold Shares Worth ₹445 Crore
A91 Emerging Fund I LLP was by far the largest seller among the disclosed shareholders, accounting for approximately ₹445 crore of the secondary transactions.
Despite the sale, A91 remains Atomberg’s largest shareholder. As of the DRHP date, the investor held a 21.02% stake in the company.
The scale of the sale is notable because A91 was one of Atomberg’s earliest institutional backers. The investor led Atomberg’s Series A funding round in September 2019, marking an important stage in the company’s transition from an early-stage appliance startup to a larger consumer brand.
A91’s Atomberg Position
| A91 Metric | Detail |
|---|---|
| Secondary shares sold | About ₹445 crore |
| Current stake after disclosed sales | 21.02% |
| Position | Largest shareholder |
| Initial major investment | Series A, 2019 |
| Current status | Still a major shareholder |
The sale therefore represents partial monetization rather than a complete exit.
Parampara Sold ₹116 Crore
Another early investor, Parampara Early Stage Opportunities Fund Series I, sold shares worth approximately ₹116 crore.
Parampara has been associated with Atomberg since its early financing years. The company raised $1 million, or about ₹6.7 crore at the time, from Parampara Capital in May 2016.
The secondary transactions now show how early-stage investors can gradually realize gains as a startup matures and attracts larger institutional investors.
Early Investor Exit Data
| Investor | Reported Secondary Sale |
|---|---|
| A91 Emerging Fund I LLP | ₹445 crore |
| Parampara Early Stage Opportunities Fund Series I | ₹116 crore |
| Other investors/shareholders | Balance of disclosed ₹683 crore |
| Total secondary transactions | About ₹683 crore |
The transactions also demonstrate the shift in Atomberg’s shareholder base from early venture investors toward larger institutional investors.
Founders Sold ₹71.6 Crore Worth Of Shares
Atomberg’s co-founders also participated in secondary sales.
Manoj Kumar Meena sold shares worth around ₹40.2 crore, while Sibabrata Das sold shares worth nearly ₹31.4 crore. Together, the reported founder transactions amounted to approximately ₹71.6 crore.
Neither founder appears to have exited the company. Both continue to hold significant stakes following the transactions.
Founder Share Sales
| Founder | Shares Sold | Approx. Value |
|---|---|---|
| Manoj Kumar Meena | Secondary shares | ₹40.2 crore |
| Sibabrata Das | Secondary shares | ₹31.4 crore |
| Combined | — | ₹71.6 crore |
Meena remained Atomberg’s second-largest shareholder after A91, with a 17.73% stake as of the DRHP date. Das held a 10.02% stake.
Who Bought The Shares?
A significant portion of the shares sold by early investors was acquired by newer institutional investors.
Temasek-backed entities Jongsong Investments Pte. Ltd and V-Sciences Investments Pte. Ltd acquired shares worth approximately ₹187 crore and ₹132 crore, respectively. Funds associated with Inflexor also bought a significant portion of shares sold by Parampara.
Major Buyers In Atomberg Secondary Transactions
| Buyer | Approx. Purchase Value |
|---|---|
| Jongsong Investments Pte. Ltd | ₹187 crore |
| V-Sciences Investments Pte. Ltd | ₹132 crore |
| Inflexor-linked funds | Significant portion of Parampara sale |
| Other buyers | Remaining transactions |
| Total disclosed transactions | About ₹683 crore |
The participation of large institutional investors indicates that the secondary sales were not simply early shareholders cashing out. They also allowed newer investors to build positions in Atomberg before its potential public-market debut.
Atomberg’s Shareholding Structure
The secondary transactions have reshaped Atomberg’s ownership structure, although several early investors continue to hold substantial stakes.
As of the DRHP date, A91 remained the largest shareholder with 21.02%, followed by co-founder Manoj Kumar Meena at 17.73%.
Atomberg Shareholding Snapshot
| Shareholder | Stake |
|---|---|
| A91 Partners | 21.02% |
| Manoj Kumar Meena | 17.73% |
| V-Sciences Investments | 11.80% |
| Jungle Ventures | 10.03% |
| Sibabrata Das | 10.02% |
| Steadview Capital | 7.00% |
| Jongsong Investments | 6.98% |
| Inflexor Ventures | 6.08% |
Together, the listed shareholders account for a substantial majority of Atomberg’s ownership, demonstrating the concentration of the company’s equity among founders and institutional investors.
Atomberg Is Now Preparing For Its IPO
The secondary sales come as Atomberg moves toward the public markets.
The company has filed its DRHP with the Securities and Exchange Board of India and is looking to raise ₹450 crore through a fresh issue. Existing shareholders are also expected to sell shares through an offer for sale of up to 76.5 million shares.
The IPO structure will therefore have two distinct components: fresh capital raised by Atomberg and an OFS through which existing shareholders can monetize part of their holdings.
Proposed Atomberg IPO Structure
| IPO Component | Details |
|---|---|
| Fresh issue | ₹450 crore |
| Offer for sale | Up to 76.5 million shares |
| Fresh-issue proceeds for debt repayment | ₹90 crore |
| Brand building and performance marketing | ₹150 crore |
| Research and development | ₹100 crore |
| General corporate purposes | ₹110 crore |
The fresh issue will provide capital to Atomberg, while proceeds from the OFS will go to the selling shareholders rather than the company.
Why Early Investors Are Selling Before The IPO
Secondary sales are common as startups mature and early investors seek liquidity.
Venture capital funds typically invest with a multi-year time horizon. As companies reach later stages, secondary transactions allow these investors to partially realize returns without requiring the company itself to conduct a large primary fundraising round.
Atomberg’s transactions are particularly notable because some early investors have been shareholders for several years.
A91, for example, entered during the company’s 2019 Series A round. Parampara invested even earlier, in 2016. The subsequent sales allow these investors to monetize part of their positions while retaining exposure to Atomberg’s future growth and IPO.
Atomberg Has Expanded Beyond Smart Fans
Atomberg began with energy-efficient BLDC ceiling fans and has expanded its portfolio into several home and kitchen appliance categories.
The company’s products now include fans, mixer grinders, water purifiers, juicers and smart locks. Its subsidiary Atomberg Innovations also supplies motors and controllers to companies including Voltas, Godrej and Blue Star.
The company’s expansion has required investment in manufacturing, research and development, distribution and brand building.
Atomberg’s Business Evolution
| Stage | Development |
|---|---|
| 2012 | Founded by Manoj Meena and Sibabrata Das |
| 2016 | Entered early consumer-product expansion phase |
| 2016 | Raised $1 million from Parampara |
| 2019 | Raised Series A led by A91 |
| 2021 | Raised $20 million Series C led by Jungle Ventures |
| 2023 | Raised $86 million Series C from Temasek, Steadview and others |
| 2026 | Filed DRHP for proposed IPO |
The company has progressively moved from a focused fan manufacturer toward a broader consumer-appliance business.
Revenue Growth Accelerates Ahead Of IPO
Atomberg’s financial performance has also improved significantly.
The company reported revenue from operations of ₹1,293.77 crore in FY26, up 34.8% from ₹959.51 crore in FY25. Its adjusted EBITDA improved to ₹37.12 crore from a negative ₹51.35 crore a year earlier, although the company still reported a net loss of ₹149 crore in the previous fiscal.
Atomberg Financial Snapshot
| Financial Metric | FY25 | FY26 |
|---|---|---|
| Revenue from operations | ₹959.51 crore | ₹1,293.77 crore |
| Revenue growth | — | 34.8% |
| Adjusted EBITDA | -₹51.35 crore | ₹37.12 crore |
| Net loss | — | ₹149 crore |
The move into positive adjusted EBITDA is significant as Atomberg prepares for a public listing, although the continuing net loss means investors are likely to closely examine its path toward sustainable profitability.
What The ₹683 Crore Secondary Sales Tell Investors
The secondary transactions provide an important window into Atomberg’s pre-IPO ownership transition.
The company is moving from a shareholder base dominated by early-stage investors toward one that includes later-stage institutional funds. At the same time, founders and early backers are taking some liquidity while continuing to hold meaningful stakes.
This structure can provide investors with two signals. First, substantial secondary sales demonstrate that early shareholders have been able to monetize their investments. Second, the continued presence of A91, the founders and other institutional shareholders indicates that several existing investors remain exposed to Atomberg’s post-IPO performance.
The Bigger Picture
Atomberg’s ₹683 crore secondary-share transactions since 2019 show how ownership in a successful startup can evolve well before an IPO. A91 accounted for roughly ₹445 crore of the disclosed sales, while Parampara sold around ₹116 crore and the founders sold approximately ₹71.6 crore. The transactions did not raise money for Atomberg itself; instead, they provided liquidity to existing shareholders and allowed newer investors to acquire positions.
The transactions also come at an important transition point for the company. Atomberg has moved from its origins in energy-efficient BLDC fans into multiple home-appliance categories and is now preparing for a proposed ₹450 crore fresh issue alongside an OFS of up to 76.5 million shares. Its FY26 revenue growth and improvement in adjusted EBITDA suggest that the company is entering the IPO process with greater scale, although profitability remains a key area for investors to watch.
Looking Ahead
The next major milestone for Atomberg will be the IPO process and the response from public-market investors to its proposed fresh issue and OFS. The listing could provide additional liquidity to existing shareholders while giving Atomberg access to public capital for its next phase of growth. The final IPO structure, valuation and pricing will determine how much value early investors ultimately realize from their holdings.
For A91, Parampara, the founders and other early shareholders, the ₹683 crore of secondary transactions represent significant liquidity already generated before the public listing. However, several of them continue to own sizeable stakes, meaning their eventual returns will also depend on Atomberg’s performance after listing. For the company itself, the priority will be converting its strong revenue growth into sustainable profitability while continuing to expand its consumer-appliance portfolio.
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