Bengaluru-based Wakefit Innovations has secured Rs 580 crore from anchor investors ahead of its initial public offering (IPO), which will open for subscription on December 8.
The company allotted 29,743,590 shares at Rs 195 each, according to a circular posted on the BSE website.
The anchor book attracted participation from HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, and Amundi Funds New Silk Road. Additionally, 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 subscribed through multiple schemes.
Wakefit’s Rs 1,289 crore IPO will close on December 10. The company has set the price band at Rs 185 to Rs 195 per share, valuing the business at nearly Rs 6,400 crore. The issue includes a fresh share sale of up to Rs 377.18 crore and an offer for sale of 4,67,54,405 shares valued at about Rs 912 crore.
Founders Ankit Garg and Chaitanya Ramalingegowda, along with shareholders Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I, will divest part of their holdings. Consequently, after the sale, promoter ownership will decline to around 37% from 43.70%.
Wakefit aims to allocate Rs 31 crore from the fresh issue to establish 117 new company-owned stores and Rs 15.4 crore to purchase new equipment and machinery. It will further use Rs 161.4 crore for lease and licence payments for existing outlets, while Rs 108.4 crore will support marketing and brand initiatives. The remaining funds will go toward general corporate requirements.
Moreover, the company recently raised Rs 56 crore from DSP India Fund and 360 ONE Equity Opportunities Fund in a pre-IPO transaction.
Founded in 2016, Wakefit has grown into one of India’s fastest-expanding home and furnishings brands, and it has already surpassed Rs 1,000 crore in total income by FY24. Furthermore, the company sells mattresses, furniture, and home accessories through its website, COCO stores, and major online marketplaces.
Wakefit operates five manufacturing facilities in Bengaluru, Hosur, and Sonipat, where it uses automation technologies such as robotic arms and roller belts to minimize waste and accelerate production. The company reported Rs 724 crore in operating revenue and Rs 35.5 crore in profit for the six months ending September 30, 2025.
The company expects its shares to be listed on December 15, 2025.
