India, Oct. 30 -- Markets regulator Securities and Exchange Board of India (SEBI) has cleared the Rs.450 Cr IPO of consumer appliances company Atomberg today.

In its update, the SEBI informed that it had issued its observation letter to Atomberg on October 30, over a couple months after the company filed its draft IPO papers. In SEBI parlance, the issuance of the final observation marks the regulator's formal clearance to a company to proceed with its public offering.

As per its DRHP, Atomberg's proposed IPO could comprise a fresh issue of equity shares worth up to Rs.450 Cr and an offer for sale (OFS) component of up to 7.65 Cr equity shares.

The company plans to use Rs.90 Cr from the fresh issue proceeds to repay or prepay certain bo...