Wakefit Innovations IPO
Wakefit Innovations Ltd. is coming out with a book-built IPO consisting of a fresh issue of Rs. 377.18 crore and an Offer for Sale of 4.68 crore equity shares.
The IPO opens on December 8, 2025 and closes on December 10, 2025. The allotment is expected on December 11, 2025 and listing is tentatively scheduled for December 15, 2025 on BSE and NSE.
The price band is awaited.
Lead Manager: Axis Capital Ltd.
Registrar: MUFG Intime India Pvt. Ltd.
| Final Subscription Tally | |||||
| Size – Rs 708.89 Cr | |||||
| (Closed on 10 December 2025) | |||||
| QIB | B HNI | S HNI | HNI | RII | Total |
| 3.04 | 0.88 | 1.41 | 1.05 | 3.17 | 2.52 |
| Subscription Review- 2,33,012 applications received Net of Anchor Investors, 363,53,277 shares were offered amounting to Rs. 708.89 Cr. |
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🕗 Last Update: 10 December 2025, 6.00 AM
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IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | December 8, 2025 |
| IPO Close Date | December 10, 2025 |
| Allotment Date | December 11, 2025 |
| Refunds Initiation | December 12, 2025 |
| Credit to Demat | December 12, 2025 |
| Listing Date | December 15, 2025 |
| Cut-off Time for UPI | 5 PM, December 10, 2025 |
IPO Details
| Particulars | Details |
|---|---|
| Face Value | Rs. 1 per share |
| Issue Price Band | 185-195 per share |
| Lot Size | 76 shares |
| Sale Type | Fresh Issue + OFS |
| Fresh Issue | Rs. 377.18 Cr |
| OFS | 4,67,54,405 shares |
| Issue Type | Bookbuilt Issue |
| Listing At | BSE & NSE |
| Shareholding Pre-Issue | 30,74,86,214 shares |
Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | Not less than 75% of Net Offer |
| NII (HNI) | Not more than 15% |
| Retail | Not more than 10% |
How shares can be applied?
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 76 | Rs.14,820 |
| Retail (Max) | 13 | 988 | Rs.1,92,660 |
| S-HNI (Min) | 14 | 1,064 | Rs.2,07,480 |
| S-HNI (Max) | 67 | 5,092 | Rs.9,92,940 |
| B-HNI (Min) | 68 | 5,168 | Rs.10,07,760 |
Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 43.01% |
| Promoter Holding Post-Issue | To be updated |
Promoters: Ankit Garg and Chaitanya Ramalingegowda
About Wakefit Innovations Ltd.
Founded in 2016, Wakefit Innovations Ltd. is one of India’s largest and fastest-growing D2C home and sleep solutions brands. It pioneered the online-first memory foam mattress category and expanded into furniture, furnishings, and home décor essentials.
Wakefit serves customers across 700 districts, and as of September 30, 2025, operates 125 stores in 62 cities, giving it a strong omnichannel presence.
Product Portfolio:
-
Mattresses
-
Furniture
-
Furnishings
Key Strengths:
-
Strong brand recall in the D2C home solutions segment
-
Product innovation and backward integration
-
Vertically integrated manufacturing and logistics
-
Omnichannel distribution with strategically placed stores
-
High-reach digital marketing strategy
Financial Snapshot (Rs. crore)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,220.34 | 1,050.75 | 928.30 | 791.80 |
| Total Income | 741.30 | 1,305.43 | 1,017.33 | 820.01 |
| Profit After Tax | 35.57 | -35.00 | -15.05 | -145.68 |
| EBITDA | 103.19 | 90.83 | 65.85 | -85.75 |
| Net Worth | 557.34 | 520.57 | 543.61 | 505.08 |
| Total Borrowing | – | – | 7.36 | – |
Key Performance Indicators
| KPI | Value |
|---|---|
| ROE | -6.58% |
| ROCE | -0.68% |
| Debt/Equity | 0.53 |
| RoNW | -6.72% |
| PAT Margin | -2.75% |
| EBITDA Margin | 7.13% |
Objects of the Issue (Rs. crore)
| S.No. | Purpose | Amount |
|---|---|---|
| 1 | Setting up 117 new COCO – Regular Stores | 30.84 |
| 2 | Lease/sub-lease rent & license fee for COCO Stores | 161.47 |
| 3 | Purchase of new equipment & machinery | 15.41 |
| 4 | Marketing & brand visibility expenses | 108.40 |
| 5 | General corporate purposes | To be updated |
Chanakya IPO Review – by Paresh Gordhandas, CA & Research Analyst
oWakefit is a well-known D2C home & sleep solutions brand with strong presence across 700 districts and growing omnichannel expansion through 125 stores. Revenues have grown sharply over the years with improving EBITDA, but the company continues to show inconsistent profitability—PAT was negative in FY24 & FY25 and only modestly positive in H1 FY26. The IPO will substantially fund store expansion, rentals, marketing and machinery, indicating long-term growth plans but also higher cost commitments. ROE and ROCE remain negative, signalling weak return ratios at present.
Debt levels are reasonable, but sustained profitability will be crucial for valuation comfort. Competition from large offline players and online marketplaces remains a key risk. The issue may attract interest due to brand strength, but from a valuation and fundamentals perspective, only aggressive investors may consider small exposure, while conservative investors may avoid till margins stabilise.
Company Contact
Wakefit Innovations Ltd.
Umiya Emporium, 97-99, 2nd & 4th Floor
Adugodi, Tavarekere, Opp. Forum Mall, Hosur Road
Bengaluru, Karnataka – 560029
📞 080 67335544
✉ investorscompliance@wakefit.co
🌐 http://www.wakefit.co/
Lead Managers
Axis Capital Ltd.
IIFL Capital Services Ltd.
Nomura Financial Advisory & Securities (India) Pvt. Ltd.
Registrar
MUFG Intime India Pvt. Ltd.
📞 +91-22-4918 6270
✉ wakefitinnovations.ipo@in.mpms.mufg.com
🌐 https://linkintime.co.in/Initial_Offer/public-issues.html
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
