Wakefit IPO GMP Update: How Premium Is Moving Ahead Of Next Week's Launch?

Primary market investors are keeping a close watch on the upcoming initial public offering (IPO) of Bengaluru-based Wakefit Innovations Ltd., a leading manufacturer of mattresses, furniture and home furnishings. The company will launch its IPO on Monday, December 8.

The grey market premium for the mainboard IPO has already started gaining interest among the private market investors.

Here’s everything you need to know about the Wakefit IPO, including its latest grey market premium (GMP), offer size, price band and other details.

The latest grey market premium (GMP) for the Wakefit Innovations IPO stood at Rs 36 per share, as of 10:30 a.m. on December 5. With the upper end of the price band set at Rs 195, the IPO’s estimated listing price is around Rs 231. The latest GMP indicates an expected listing gain of approximately 18.46% per share for investors.

Note: GMP does not represent official data and is based on speculation.

Wakefit Innovations Ltd. aims to raise Rs 1,288.89 crore through its IPO. The mainboard issue comprises a fresh issuance of 1.93 crore shares worth Rs 377.18 crore, and an offer-for-sale (OFS) of 4.68 crore shares, aggregating to Rs 911.71 crore. 

The price band for the IPO has been set at Rs 185 to Rs 195 per share. The lot size for the issue comprises 76 shares. A retail investor needs to apply for at least a single lot size, amounting to an investment of Rs 14,820 as per the upper limit of the issue price.  

The IPO will remain open for subscription from December 8 to December 10. Allotment of shares is expected to be finalised on December 11. Shares of the company are tentatively scheduled to be listed on the BSE and NSE on December 15. 

Axis Capital Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the issue registrar.

 Wakefit Innovations proposes to utilise most of the net proceeds from the issue towards the expenditure for lease, sub-lease rent and license fee payments for existing COCO – regular stores and for marketing and advertisement expenses toward enhancing the awareness and visibility of the brand. Remaining proceeds will be utilised for capital expenditure to be incurred by the company for purchase of new equipment and machinery and the capital expenditure to be incurred by the company for setting up of 117 new COCO – regular stores.

Founded in 2016, Wakefit Innovations is an Indian D2C brand offering affordable mattresses, furniture and home decor.

The company plans to use the IPO proceeds to open new stores, cover lease and licence fees, and purchase equipment. It also plans to allocate a part of the funds for marketing and other general corporate purposes.

In the financial year 2024-25, Wakefit Innovations reported a total income of Rs 1,305.43 crore, up from Rs 1,017.33 crore in the preceding fiscal. The company’s losses widened to Rs 35 crore in FY25 from Rs 15 crore in FY24. Its Ebitda grew 38% YoY to Rs 90.83 crore in FY25 from Rs 65.85 crore in the previous financial year, reflecting improved operational performance.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.