Wakefit IPO To Open On December 8, Company Plans Major Expansion With ₹377-Crore Fresh Issue, More Details Inside…

Mumbai: Home and furnishings brand Wakefit Innovations will open its initial public offering (IPO) on December 8, aiming to raise major funds for expansion and growth. The issue will close on December 10, while anchor investors will be allotted shares on December 5, as per the company’s Red Herring Prospectus (RHP).

IPO Structure: Fresh Issue + OFS

Wakefit’s maiden IPO includes:

- Fresh issue worth Rs 377.1 crore

- Offer-for-sale (OFS) of 4.67 crore shares by promoters and investors

Promoter shareholders Ankit Garg and Chaitanya Ramalingegowda, along with major investors such as Peak XV Partners, Verlinvest, Investcorp funds, Redwood Trust, and others, will sell part of their stake in the OFS.

How Wakefit Will Use the IPO Money

From the fresh issue, the company plans to spend:

- Rs 31 crore to open 117 new COCO (company-owned, company-operated) stores

- Rs 15.4 crore to buy new equipment and machinery

- Rs 161.4 crore for lease, sub-lease rent and licence fees for existing stores

- Rs 108.4 crore for marketing and advertising to grow brand reach

- The rest for general corporate purposes

Earlier in November, Wakefit raised Rs 56 crore in pre-IPO funding from DSP India Fund and 360 ONE Equity Opportunities Fund.

Wakefit’s Growth Story

Founded in 2016, Wakefit has rapidly become one of India’s fastest-growing home and furnishings companies. By March 31, 2024, it crossed Rs 1,000 crore in total income, making it one of the largest organised players in the sector.

Wakefit sells a wide range of mattresses, furniture, and furnishings via:

- Its own website

- COCO stores

- Major e-commerce platforms

- Offline multi-brand outlets

The company follows a vertically integrated model, controlling product design, manufacturing, distribution, and customer experience.

Manufacturing Strength & Technology Backbone

Wakefit runs five manufacturing plants:

Two in Bengaluru, Karnataka

Two in Hosur, Tamil Nadu

One in Sonipat, Haryana

These units use advanced machinery like robotic arms and automated conveyor systems to improve manufacturing speed and reduce wastage.

Financial Snapshot

For the six months ending September 30, 2025, Wakefit reported:

- Rs 724 crore revenue

- Rs 35.5 crore profit

Axis Capital, IIFL Capital Services, and Nomura are the book-running lead managers for the IPO. The shares will be listed on BSE and NSE after the issue.