New IPO Alert: The company is bringing an IPO of Rs 1,400 crore on December 8, know every detail.

News Topical, Digital Desk : New IPO Alert: Wakefit Innovations Ltd has announced the date of its IPO. The company's IPO will open on December 8th and close on December 10th. Wakefit plans to raise approximately ₹1,400 crore. According to the red herring prospectus, the offering consists of a fresh issue of equity shares worth up to ₹377.1 crore, along with an offer for sale of up to 46.7 million equity shares.

Wakefit IPO Details
Under the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with other shareholders Nitika Goyal, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I, will sell their stake. Market sources indicate that the total issue size will be around ₹1,400 crore.

The company's RHP states that shares will be allotted to anchor investors on December 5. Wakefit plans to use the proceeds from the fresh issue for various purposes. ₹31 crore will be spent on opening 117 new COCO-Regular stores. ₹15.4 crore will be used to purchase new equipment and machinery. ₹161.4 crore will be used for rent and license fees for existing stores. ₹108.4 crore will be used for marketing and advertising expenses, and the remaining amount will be spent on general corporate needs. Previously, the company had raised ₹56 crore in a pre-IPO round from DSP India Fund and 360 ONE Equity Opportunities Fund. Founded in 2016, Wakefit is one of the fastest-growing domestic companies in the home and furnishings segment. By March 2024, the company had reported a total revenue of over ₹1,000 crore. The company sells mattresses, furniture, and furnishing products through its website, COCO stores, and external channels such as e-commerce platforms and multi-brand outlets. Wakefit has five manufacturing units, two located in Bengaluru, two in Hosur, and one in Sonipat. These units use technologies such as robotic arms and roller belts. In the first half of FY2025, the company reported revenue of ₹724 crore and a profit of ₹35.5 crore. 

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