Atomberg Gets SEBI Nod for IPO; Delhivery Posts Rs 41 Cr Profit

Atomberg Technologies is a step closer to the stock market. The smart appliance company has received SEBI's approval to launch its initial public offering, which combines a fresh issue worth Rs 450 crore with an offer for sale of more than 76.5 million equity shares.

The fresh issue brings new capital to the company, while the offer for sale lets existing shareholders sell part of their holdings. The pricing, the timing of the listing and the use of proceeds were not part of the information available.

Delhivery returns a Q2 profit

In other results from India's startup and listed-tech ecosystem, logistics company Delhivery reported a net profit of Rs 41 crore for the second quarter. Further breakdowns, such as revenue and year-on-year comparison, were not provided.

Binance breach in the headlines

On the global crypto front, Binance has been linked to a breach described as being worth $6.3 billion. Details of how it happened, what was affected and how the exchange has responded were not available at the time of writing, so the figure should be treated with caution until confirmed.

What it means

SEBI's clearance is a necessary regulatory milestone for Atomberg, but the company still decides when to go to market. For investors, the combination of fresh capital and a sizeable offer for sale will be a key detail to watch once the final offer documents are public.