Home Furnishings Company Wakefit Innovation Subscribed More Than 2 Times On The Final Day Of Share Sale
The initial share sale of home and furnishings company Wakefit Innovations Ltd was subscribed to more than 2 times on the final day of the share sale. The 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, taking the total issue size to Rs 1,289 crore.
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New Delhi: The initial share sale of home and furnishings company Wakefit Innovations Ltd was subscribed to more than 2 times on the final day of share sale on Wednesday.The Rs 1,289-crore initial public offering (IPO) got bids for 9,16,72,720 shares against 3,63,53,276 shares on offer, according to the NSE data.
Category-wise, shares meant for retail individual investors (RIIs) subscribed 3.17 times, while the quota for Qualified Institutional Buyers (QIBs) received 3.04 times subscription. The portion for Non Institutional Investors subscribed 1.05 times.The home and furnishings company on Friday collected Rs 580 crore from anchor investors.
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The 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, taking the total issue size to Rs 1,289 crore.As part of the OFS, 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.
Wakefit proposes to utilise the proceeds from the fresh issue worth Rs 31 crore for setting up 117 new COCO-Regular Stores; Rs 15.4 crore towards purchase of new equipment and machinery, Rs 161.4 crore for expenditure for lease and sub-lease rent and license fee payments for existing stores.Additionally, Rs 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.
Incorporated in 2016, Wakefit 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 Rs 1,000 crore as of March 31, 2024.Wakefit reported a revenue from operations of Rs 724 crore and a profit of Rs 35.5 crore for the six months ending September 2025.
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