Cyril Amarchand Mangaldas has advised Atomberg Technologies on its proposed initial public offering (IPO), comprising a fresh issue aggregating to INR 450 crore and an offer for sale (OFS) of up to 76,541,851 equity shares by certain existing shareholders. JSA Advocates & Solicitors is advising seven institutional selling shareholders, while Khaitan & Co is advising the book running lead managers on the IPO.
The book running lead managers include ICICI Securities, Avendus Capital and IIFL Capital Services.
The net proceeds from the fresh issue are proposed to be used for repayment or prepayment, in full or in part, of certain borrowings, brand awareness and performance marketing activities, research and development (R&D), and general corporate purposes.
According to the DRHP, Atomberg proposes to utilise INR 90 crore towards repayment or prepayment of borrowings, INR 150 crore towards brand awareness and performance marketing, and INR 100 crore towards R&D.
The company may also undertake a pre-IPO placement of up to INR 90 crore. If completed, the amount raised through such placement would be reduced from the fresh issue size.
CAM’s transaction team is led by partner Oishika Dasgupta, with support from principal associate Akash Joshi, senior associate Adwait Deshmukh and associates Devansh Raheja, Subhajit Chowdhury, Chinmay Jumde and Syamantak Sinha. Senior partner Yash J. Ashar provided strategic guidance.
The JSA team is led by partner Arka Mookerjee, with support from partners Pracheta Bhattacharya and Kairav Parikh, senior associate Jeebitesh Bhattacharya and associate Bhuvnesh Kumar.
The Khaitan team comprises partners Madhur Kohli and Vaibhav Mittal, senior associates Anshul Mordia and Kanchi Malhotra, and associates Vanshika Singh, Dipsa Prasanth, Srishti Jain and Subah Hindaria.
