Upcoming IPO: Wakefit's ₹1,289-crore issue to open on Dec 8; check price band and other key details

In a public announcement on Tuesday, the company fixed a price band of ₹185-195 per share for its maiden public offering, valuing the company at nearly ₹6,400 crore.

The IPO of the Bengaluru-based company will conclude on December 10, and anchor investors will be allocated shares on December 5.

The company's maiden public offering comprises a fresh issue of equity shares worth up to ₹377.18 crore and an Offer for Sale (OFS) of 46,754,405 shares, valued at around ₹912 crore. Together, this takes the total issue size to ₹1,289 crore.

As part of the OFS, the promoters—Ankit Garg and Chaitanya Ramalingegowda and other selling shareholders—Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund and Paramark KB Fund I will be offloading shares.

Wakefit proposes to utilise the proceeds from the fresh issue worth ₹31 crore for setting up 117 new COCO-Regular Stores; ₹15.4 crore towards the purchase of new equipment and machinery; and ₹161.4 crore for expenditure for lease and sub-lease rent and licence fee payments for existing stores.

Additionally, ₹108.4 crore will be used towards marketing and advertisement expenses for enhancing the awareness and visibility of the brand, and the remaining amount will be used for general corporate purposes.

Earlier this month, Wakefit raised ₹56 crore from DSP India Fund and 360 ONE Equity Opportunities Fund as part of a pre-IPO funding round.

About Wakefit

Wakefit, which was incorporated in 2016, is one of the fastest homegrown players in the home and furnishings market in India among organised peers to achieve a total income of more than ₹1,000 crore, as of March 31, 2024.

It has a wide range of mattresses, furniture, and furnishings which it sells through both its own channels (comprising the website and COCO-Stores) and external channels (including various marketplaces, such as major e-commerce platforms and multi-branded outlets).

It is a full-stack vertically integrated company, enabling it to control every aspect of operations, from conceptualising, designing and engineering products to manufacturing, distributing and providing customer experience and engagement.

Wakefit operates five manufacturing facilities, of which two are situated at Bengaluru, Karnataka, two at Hosur, Tamil Nadu, and one at Sonipat, Haryana. Its facilities are equipped with imported machinery and automation technologies, such as robotic arms and roller belts, which streamline the production process and reduce waste.

Category wise allotment

The company said that 75% of the issue size has been reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for retail investors.

Wakefit will make its stock market debut on December 15.

On the financial front, Wakefit reported revenue from operations of ₹724 crore and profit of ₹35.5 crore for the six-month period ended September 30, 2025.

Axis Capital, IIFL Capital Services and Nomura Financial Advisory and Securities (India) Private Ltd are the book-running lead managers to the issue.