Bengaluru: Consumer appliances maker Atomberg Technologies has converted itself from a private company into a public company as it prepares for a potential initial public offering of up to Rs 2,000 crore.The company’s shareholders approved changing its name from Atomberg Technologies Private Limited to Atomberg Technologies Limited. The Registrar of Companies approved the conversion on July 2, regulatory filings showed.The change is an early preparatory step for an IPO. It does not mean that Atomberg’s shares are now publicly traded. The company will still have to file its offer documents and secure the required regulatory approvals before launching an IPO.Atomberg is considering raising around Rs 1,500-2,000 crore through a mix of fresh shares and an offer for sale by existing shareholders, people aware of the plans said. The final size and structure of the issue may change.Temasek-backed Atomberg is best known for its energy-efficient brushless direct current, or BLDC, fans. It has since expanded into mixer grinders, cold press juicers, water purifiers, other small appliances and smart locks.The company also manufactures motors and electronic controllers for other businesses. Atomberg was founded in 2012 by IIT Bombay alumni Manoj Meena and Sibabrata Das.
