Wakefit’s IPO opens on December 8; company aims to raise Rs 377.1 crore via fresh issue

Wakefit Innovations Ltd is preparing to launch its initial public offering (IPO) on December 8 with an aim to raise around Rs 1,400 crore.

The Bengaluru-based home and furnishings company has filed its red herring prospectus (RHP), which details a fresh issue of equity shares worth up to Rs 377.1 crore and an offer for sale of 4.67 crore shares by existing shareholders.

Promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP and Paramark KB Fund I, will be selling shares through the offer for sale.

The IPO will close on December 10, while anchor investors will receive share allocation on December 5.

Wakefit plans to use Rs 30.84 crore from the fresh issue to set up 117 new COCO Regular Stores. It has earmarked Rs 15.41 crore for new equipment and machinery and Rs 161.47 crore for lease, sub lease rent and licence fee payments for its existing stores. Another Rs 108.40 crore will go towards marketing and advertising, and the rest will be used for general corporate purposes.

Wakefit raised Rs 56 crore earlier this month from DSP India Fund and 360 ONE Equity Opportunities Fund in a pre-IPO funding round.

Incorporated in 2016, Wakefit is among the fastest homegrown players in the organised home and furnishings market to cross total income of more than Rs 1,000 crore as of March 31, 2024. Its portfolio includes mattresses, furniture and furnishings sold through its website, company owned stores and external channels such as ecommerce marketplaces and multi branded retail outlets.

The company operates five manufacturing plants, with two located in Bengaluru, two in Hosur and one in Sonipat. These facilities use imported machinery and automation technologies like robotic arms and roller belts to improve efficiency and reduce waste.

For the six months ended September 30, 2025, Wakefit reported revenue from operations of Rs 724 crore and a profit of Rs 35.5 crore.

For FY25, Wakefit posted a net loss of Rs 35 crore, compared to a loss of Rs 15 crore in the previous year, while revenue from operations grew 29 percent year on year to Rs 1,273.7 crore.

Axis Capital, IIFL Capital Services and Nomura Financial Advisory and Securities India Pvt Ltd are the book running lead managers to the issue. The company’s shares will be listed on the BSE and NSE.