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Wakefit IPO closes with 2.52x overall subscription

EntrackrEntrackr · 8h ago
Wakefit IPO closes with 2.52x overall subscription
Medial

Wakefit IPO closes with 2.52x overall subscription Home and sleep solutions brand Wakefit saw its IPO subscribed 2.52 times, with both QIB and retail portions receiving over 3 times bids. According to exchange data, retail investors led the demand with a 3.17x subscription, followed by Qualified Institutional Buyers (QIBs) at 3.04x, while Non-Institutional Investors (NIIs) subscribed 1.05x. The IPO was open for bidding from December 8 to 10 with a price band of Rs 185–195 per share. Share allotment is expected on December 11, and the company is scheduled to list on the BSE and NSE on December 15. According to its RHP, the company aims to raise Rs 377.2 crore through a fresh issue of shares, along with an offer for sale (OFS) of 4.68 crore equity shares worth Rs 911.7 crore. As part of the OFS, Peak XV will earn a 10x return on its investment, cashing out around Rs 397 crore. Ahead of the public subscription, the firm allotted 2.97 crore equity shares to anchor investors at Rs 195 each, raising Rs 580 crore from 33 anchors. The anchor book saw participation from HDFC MF, Axis MF, Mahindra MF, Edelweiss MF, Tata MF, and others. From the fresh proceeds, Wakefit plans to use the funds for store-related lease payments, marketing, setting up new COCO stores, and purchasing equipment. Wakefit posted operating revenue of Rs 724 crore and a net profit of Rs 35.57 crore in the first half of FY26. In FY25, its operating revenue grew nearly 30% to Rs 1,274 crore, though the company ended the year with a net loss of Rs 35 crore.

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Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report

EntrackrEntrackr · 8m ago
Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report
Medial

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report Home furniture and sleep solutions company Wakefit has selected three investment banks to help with its plans to go public. According to a Moneycontrol report, the company has chosen Axis Capital, IIFL Capital Services, and Nomura to guide its initial public offering (IPO). Wakefit is expected to file draft papers for the IPO in the coming months. As per the report, the company aims to raise between Rs 1,500 crore and Rs 2,000 crore ($200 million). It has not yet decided how much will be raised through new shares and how much will be sold by current investors. So far, Wakefit has raised more than $100 million (around Rs 850 crore) from investors such as Peak XV Partners, Paramark Ventures from South Korea, and Verlinvest from Europe. Some of these early investors may sell their shares in the IPO. Wakefit started as a mattress company but later began selling other furniture like beds, tables, and chairs. As per TheKredible, Wakefit’s revenue from operations increased by 21% to Rs 986.4 crore in FY24, as compared to Rs 812.6 crore in the previous fiscal year. The firm managed to control its losses by 90% to Rs 15 crore from Rs 145 crore in FY23. Wakefit competes with companies like SleepyCat, Duroflex, Pepperfry, IKEA, and Woodenstreet in India’s furniture and sleep product market.

Wakefit secures SEBI nod for IPO

EntrackrEntrackr · 2m ago
Wakefit secures SEBI nod for IPO
Medial

Wakefit secures SEBI nod for IPO Home and sleep solutions startup Wakefit Innovations has received regulatory approval from SEBI to proceed with its initial public offering (IPO). The IPO comprises a fresh equity issue of Rs 468.2 crore and an offer for sale (OFS) of 5.84 crore shares by promoters and existing investors. Promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors such as Peak XV, Verlinvest, Investcorp, Redwood Trust, SAI Global, and Paramark, are expected to offload part of their holdings. Ahead of the IPO, the co-founders were allotted around 2.6 million shares through a rights issue. Elevation Capital also acquired about 2.03 lakh shares from employees at Rs 1,600 per share but is not participating in the OFS. Wakefit plans to list on NSE and BSE, with Axis Capital, IIFL Capital, and Nomura as lead managers. The company will use the fresh issue proceeds to open new stores, purchase equipment, fund marketing, leases, and meet general corporate requirements. Founded in 2016, Wakefit operates as a direct-to-consumer (D2C) brand focused on sleep and home solutions. Its product portfolio spans mattresses, pillows, furniture, and other home improvement goods, sold through its website, offline stores, and third-party marketplaces. In the first nine months of FY25, Wakefit reported Rs 971 crore in revenue and a net loss of about Rs 9 crore. SEBI has also approved Lenskart’s IPO alongside Wakefit. The two join a growing list of companies that recently received the regulator’s nod to go public, including boAt, Capillary Technologies, Groww, and Pine Labs.

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