The public issue marks a key milestone for the Bengaluru-based home and furnishings company, which aims to raise capital and facilitate a partial exit for existing shareholders.
The IPO opens for subscription on Monday, December 8, and closes on Wednesday, December 10. The company’s shares are proposed to be listed on both the NSE and BSE.
The total IPO size of Rs 1,288 crore includes a fresh issue of equity shares worth Rs 377.18 crore and an OFS of 4.67 crore shares, which could fetch Rs 910.65 crore at the upper end of the price band.
Promoters Ankit Garg and Chaitanya Ramalingegowda, along with shareholders such as Peak XV Partners, Redwood Trust, and Verlinvest S.A., are participating in the OFS. The proceeds from the fresh issue will be used to support business expansion, while the OFS will enable early investors to partially exit.
The price band of Rs 185-195 per share represents 185 to 195 times the face value of Rs 1. Based on the upper band, the company’s price-to-earnings (P/E) ratio stands at 169.57x, while the lower end reflects a P/E of 160.87x, calculated on the basis of diluted EPS for FY25.
Investors can bid for a minimum of 76 shares and in multiples thereafter. The weighted average return on net worth for the past three financial years stands at 9.09%.
Wakefit shareholder details
Promoter Ankit Garg will offload up to 77.29 lakh shares, while Chaitanya Ramalingegowda will sell up to 44.52 lakh shares. Other key selling shareholders include Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I, and Paramark KB Fund I. The weighted average cost of acquisition for most promoter shares is in the range of Rs 0.02 to Rs 0.04, while institutional investors such as Verlinvest and Paramark have an average acquisition cost of over Rs 80 per share.
According to the indicative timeline, the basis of allotment is expected to be finalized on December 11.
Refunds and unblocking of ASBA accounts will begin by December 12, followed by the credit of equity shares to demat accounts on the same day.
The equity shares are expected to be listed on the stock exchanges on or around December 15.
Book running lead managers for Wakefit IPO
Axis Capital, IIFL Capital, and Nomura are acting as the book-running lead managers to the offer, while MUFG Intime India is the registrar.
About Wakefit
Wakefit operates in the home and furnishings segment, offering products such as mattresses, furniture, and soft furnishings through an omnichannel presence.
For the six-month period ended September 30, 2025, the company reported operating revenue of Rs 724 crore. Mattresses contributed the largest share at Rs 439 crore (60.65%), followed by furniture at Rs 211.86 crore (29.26%) and furnishings at Rs 73.06 crore (10.09%).
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