Rumors circulating: Harman, Vodafone Idea, Atomberg, InCred making headlines
News Article
In a significant development, Atomberg Technologies, a leading player in the smart home appliances market, is set to receive further investment from marquee investors Temasek Holdings and Jungle Ventures. The investment is part of a pre-IPO secondary round, valued at $30–40 million, and is aimed at streamlining Atomberg’s shareholder structure ahead of its planned IPO in 2026.
The investment round, primarily involving the transfer of existing shares rather than fresh capital infusion, will enable early investors such as Whiteboard Capital, Inflexor Ventures, and A91 Partners to partially exit at attractive valuations. Temasek and Jungle Ventures had already led a significant $86 million Series C funding round in 2022, valuing Atomberg at $357 million.
This move demonstrates confidence from long-term active investors in Atomberg’s growth prospects. The investment is expected to present a cleaner cap table for the upcoming public listing, further bolstering investor confidence.
Meanwhile, in other market news, Vodafone Idea, India's second-largest telecom operator, is reportedly in talks with private credit funds to finance its capital expenditure due to a cash crunch. The specific details of the discussions are not yet clear.
Elsewhere, Horizon Industrial Parks and Apollo Healthtech are planning their IPO timelines, while JSW Cement has made a strong debut on the stock market with a valuation of $2.38 billion.
In the technology sector, Apax Partners and TPG are moving to monetize their bets on an AI analytics firm, and ADQ’s Zero Two has joined Warburg Pincus as a co-owner of Evolution Data Centres. Warburg Pincus and Wipro are also in advanced discussions to acquire the India digital transformation unit of audio firm Harman.
These developments underscore the ongoing dynamism and investment activity in the Indian market across various sectors.
[1] Mint, "Atomberg Technologies plans IPO in 2026, eyes $200-250 million fundraise", 19th May 2023. [2] Economic Times, "Vodafone Idea in talks with private credit funds to finance capex", 20th May 2023. [3] Livemint, "Atomberg Technologies raises $86 million in Series C funding round", 1st February 2022. [4] No specific information available. [5] Business Standard, "Warburg Pincus, Wipro in advanced talks to buy Harman's India digital transformation unit", 21st May 2023.
- The pre-IPO secondary round investment in Atomberg Technologies, primarily involving the transfer of existing shares rather than fresh capital infusion, is a move that showcases finance from long-term active investors.
- In a cash crunch, Vodafone Idea, India's second-largest telecom operator, is reportedly in talks with private credit funds to secure financing for its capital expenditure.
