India, July 31 -- Ahead of a potential IPO, consumer appliances startup Atomberg has converted into a public entity, the routine first step towards going IPO.

Its shareholders approved a special resolution to change the name of its parent entity from Atomberg Technologies Pvt Ltd to Atomberg Technologies Ltd, as per the startup's MCA filings accessed by Inc42.

Atomberg is planning to launch its listing later this year, sources shared with Inc42 earlier. Its IPO is likely to comprise a combined fresh issue of shares (25-35%) and an offer for sale (OFS) by existing investors.

Through its IPO, Atomberg will aim to raise Rs.1,500-2,000 Cr ($165-220 Mn) to be used for capital expenditure, debt repayment, and fuel marketing and promotional a...