- Wakefit Innovations raised Rs 580 crore from anchor investors before its IPO launch
- The IPO price band is Rs 185 to Rs 195, valuing the company near Rs 6,400 crore
- IPO includes Rs 377-crore fresh issue and Rs 912-crore offer for sale of shares
Home and furnishings company Wakefit Innovations Ltd has raised Rs 580 crore from anchor investors ahead of its initial public offering (IPO), which opens for public subscription on Dec. 8 and closes on Dec. 10.
The company has fixed a price band of Rs 185 to Rs 195 per share, valuing the Bengaluru-based firm at nearly Rs 6,400 crore. Wakefit will debut on the stock market on Dec. 15.
The Rs 1,289-crore IPO comprises a fresh issue of equity shares worth up to Rs 377.18 crore and an offer for sale (OFS) of 4,67,54,405 shares, valued at around Rs 912 crore.
As per a circular on BSE's website, Wakefit allotted 29,743,590 equity shares to anchor investors at Rs 195 apiece, raising Rs 580 crore.
The anchor book saw participation from HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, and Amundi Funds New Silk Road, along with domestic mutual funds such as HDFC MF, Axis MF, Mirae Asset MF, Nippon India MF, Tata MF, HSBC MF, Bandhan MF, Edelweiss MF, and Mahindra Manulife MF.
Promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders — Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I — will offload shares. Post-issue, promoter holding will reduce to around 37% from 43.70%.
Proceeds from the fresh issue will be used for setting up 117 new COCO-Regular Stores of Rs 31 crore, purchase of equipment and machinery coming to Rs 15.4 crore, lease and sub-lease rent and license fee payments for existing stores calling for Rs 161.4 crore, marketing and advertisement expenses worth Rs 108.4 crore, and general corporate purposes.
Last month, Wakefit raised Rs 56 crore from DSP India Fund and 360 ONE Equity Opportunities Fund in a pre-IPO funding round.
Founded in 2016, Wakefit is among the fastest home-grown players in India's organised home and furnishings market to achieve total income of more than Rs 1,000 crore as of March 31, 2024. For the six months ended September 30, 2025, Wakefit reported revenue from operations of Rs 724 crore and profit of Rs 35.5 crore.
The company offers a wide range of mattresses, furniture, and furnishings through its own channels which are website and COCO-Stores and external marketplaces. It operates five manufacturing facilities, two in Bengaluru, two in Hosur, and one in Sonipat. The plants are equipped with imported machinery and automation technologies like robotic arms and roller belts.
(With inputs from PTI)
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