India, Aug. 17 -- D2C consumer appliance startup Atomberg's board passed a special resolution to raise up to Rs.450 Cr via an initial public offering (IPO) during an extraordinary general meeting (EGM) held last week, on August 12.

The proposed public issue will comprise a combination of fresh equity issuance and an offer for sale by existing shareholders, subject to market conditions and regulatory clearances from SEBI, as per the startup's disclosures filed with the MCA.

Additionally, the startup's board also approved the raise of up to Rs.90 Cr via a pre-IPO placement of equity shares.

"In the event of a pre-IPO placement, the size of the offer would be reduced from the fresh issue portion to the extent of equity shares issued under...