Wakefit IPO Wraps Up Today; Grey Market Signals Modest Gains

Primary market investors are closely watching the initial public offering (IPO) of Wakefit Innovations Ltd., a leading manufacturer of mattresses, furniture, and home furnishings, which concludes its subscription period on December 10.

The much-awaited Wakefit IPO has so far received a subdued response from the investors. The IPO was booked only 0.39 times on Tuesday and has witnessed a sharp decline in its Grey Market Premium (GMP). The GMP, which was trading around Rs 36 earlier, has now slipped to just Rs 2, raising concerns among investors about potential listing gains.

Here’s everything you need to know about the Wakefit IPO, including its latest grey market premium (GMP), offer size, price band, allotment date, listing date and other details as the subscription enters its final day.

According to InvestorGain, the latest grey market premium (GMP) for the Wakefit Innovations IPO stood at Rs 2 per share on December 10. With the upper end of the price band set at Rs 195, the IPO’s estimated listing price is around Rs 197. The latest GMP indicates an expected listing gain of approximately 1.03% 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. 

According to BSE, investors have bid for 1,41,81,448 shares against the 3,63,53,276 on offer.

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.  

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

The share allotment status for Wakefit IPO is expected to be finalised on December 11. The company's shares are tentatively scheduled to be listed on the BSE and NSE on December 15. 

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 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.