Home and furnishings company Wakefit Innovations is poised to launch its initial public offering (IPO) on December 8, with a fresh issue of shares valued at ₹377 crore. The IPO, which will conclude on December 10, is designed for anchor investors who will be allocated shares on December 5, as outlined in the red herring prospectus (RHP).
The IPO will consist of a fresh issue of equity shares totaling up to ₹377.1 crore, along with an offer-for-sale (OFS) of 4.67 crore shares from existing shareholders. Among those selling shares through the OFS are the company’s promoters, Ankit Garg and Chaitanya Ramalingegowda, as well as other shareholders including Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund, and Paramark KB Fund I.
Wakefit intends to allocate ₹31 crore of the proceeds from the fresh issue for establishing 117 new company-owned and company-operated (COCO) stores. An additional ₹15.4 crore will be directed towards acquiring new equipment and machinery, while ₹161.4 crore will be designated for leasing and license fee payments for existing stores. The company also plans to invest ₹108.4 crore in marketing and advertisement efforts aimed at enhancing brand awareness, with the remaining funds earmarked for general corporate purposes.
Earlier in November, Wakefit successfully raised ₹56 crore from DSP India Fund and 360 ONE Equity Opportunities Fund during a pre-IPO funding round. Established in 2016, Wakefit has emerged as one of the fastest-growing homegrown players in India’s home and furnishings sector, reporting a total income exceeding ₹1,000 crores as of March 31, 2024.
The company’s product offerings include a diverse range of mattresses, furniture, and furnishings sold through its own channels—comprising its website and COCO stores—as well as external channels like major e-commerce platforms and multi-branded outlets. Wakefit operates as a full-stack vertically integrated company, allowing it to manage all operational aspects from product design and engineering to manufacturing and customer engagement.
Its manufacturing capabilities span five facilities: two in Bengaluru, Karnataka, two in Hosur, Tamil Nadu, and one in Sonipat, Haryana. These facilities are equipped with advanced automation technology, including robotic arms and roller belts, which enhance production efficiency and minimize waste.
On the financial side, Wakefit reported revenue from operations of ₹724 crore and a profit of ₹35.5 crore for the six months ending September 30, 2025. The book-running lead managers for the IPO are Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) Private Ltd. The equity shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Published on November 30, 2025.
