Bengaluru-based Wakefit Innovations has set the price band for its upcoming IPO at ₹185–₹195 per equity share.
The ₹1,288 crore offering comprises a fresh issue of ₹377.18 crore and an offer for sale of ₹911.7 crore at the upper end of the price band.
The IPO will open for subscription on December 8 and close on December 10, with the company’s shares proposed to list on both the NSE and BSE. Anchor bidding is set for December 5. At the upper end of the price band, Wakefit’s valuation stands at around ₹6,373 crore.
The offer for sale totals up to 4.67 crore shares, with promoters Ankit Garg and Chaitanya Ramalingegowda selling 77.29 lakh and 44.52 lakh shares respectively. Other contributors to the OFS include Peak XV Partners, Nitika Goel, Redwood Trust, Verlinvest S.A., SAI Global India Fund I, and Paramark KB Fund I.
Funds raised through the fresh issue will support Wakefit’s retail expansion and operational upgrades. This includes launching 117 new stores, investing in machinery and equipment, paying licence fees for existing outlets, and boosting marketing and advertising spends. The company also recently raised ₹56 crore via a private placement of 28.7 lakh shares at ₹195 each.
The price band reflects a price-to-earnings ratio of 160.87x at the lower end and 169.57x at the upper end, based on diluted FY25 earnings. Investors can bid for a minimum of 76 shares and in multiples thereafter. The weighted average return on net worth over the past three financial years stands at 9.09%.
Established in 2016 by Garg and Ramalingegowda, Wakefit delivers a wide range of products—mattresses, pillows, bed frames, protectors, furniture, and soft furnishings—through its omnichannel distribution model. Its portfolio spans over 3,000 SKUs, and it partners with Amazon and Flipkart to broaden its online reach. The company aims to operate close to 220 stores by FY28 as part of its expansion strategy.
In the first half of FY25, ending September 30, 2025, Wakefit generated ₹724 crore in operating revenue and ₹35.6 crore in net profit. Mattresses brought in ₹439 crore, furniture ₹211.86 crore, and furnishings ₹73.06 crore. For the full year, revenue rose 29% to ₹1,273.7 crore, even as the company’s net loss widened to ₹35 crore compared to ₹15 crore the previous year.
The basis of allotment will likely be finalised on December 11, followed by refunds and ASBA unblocking on December 12. Shares are expected to hit demat accounts the same day, with Wakefit’s market debut anticipated around December 15.
The IPO will be managed by Axis Capital, IIFL Capital, and Nomura as book-running lead managers, and MUFG Intime India will serve as the registrar.
