Wakefit Innovations share price: Stock lists at par with IPO price on NSE

On the BSE, the stock started trading at ₹194.10, down 0.46% from the issue price.

Wakefit Innovations share price: How much investors made per lot

The initial public offering was subscribed 2.52 times, as investors placed bids for 9,16,72,720 shares as against 3,63,53,276 shares on offer, according to the stock exchanges data.

The initial share sale aimed to raise ₹1,288.89 crore by offering new shares valued at ₹377.18 crore and an offer for sale, or OFS, of 4,67,54,405 shares worth ₹911.71 crore.

As per of the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda are selling their shares. Other selling shareholders, Verlinvest SA, Paramark KB Fund I, Redwood Trust, SAI Global India Fund I LLP, Peak XV Partners Investments VI and Nitika Goel, are also divesting their stake.

Wakefit Innovations intends to utilise the IPO proceeds worth ₹31 crore for establishing 117 new COCO-Regular Stores, ₹15.4 crore to purchase new equipment and machinery, ₹161.4 crore for expenditure for lease and sub-lease rent and licence fee payments for existing stores, ₹108.4 crore for marketing and advertisement and the rest for general corporate needs.

Before the IPO, the company had collected ₹580 crore from anchor investors, including HDFC Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, Bajaj Life Insurance, Amundi Funds New Silk Road, HDFC Mutual Fund (MF), Axis MF, Nippon India MF, Tata MF, HSBC MF, Mirae Asset MF, Edelweiss MF, Mahindra Manulife MF and Bandhan MF.

Wafefit Innovations provides home and sleep solutions and is best known for its high-quality and affordable range of mattresses, home decor and furniture products.