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04 Dec, 2025
Wakefit Innovations IPO
The size of the Wakefit Innovations IPO is ₹1,288.89 crores (approx.), consisting of a fresh issue of 1.93 crore shares worth ₹377.18 crores and an offer-for-sale (OFS) of 4.68 crore shares worth ₹911.71 crores. It is a book-built issue with a price band of ₹185-195 per share. The initial public offer will open for subscription from December 8, 2025 to December 10, 2025 and the shares will be listed on BSE and NSE on or about December 15, 2025.
Company Background
Wakefit Innovations Limited is a Bengaluru-headquartered direct-to-consumer (D2C) home solutions and sleep solutions company founded in 2016. It began life as an online mattress brand and has expanded into a full-stack home solutions player across mattresses, furniture, furnishings and decor. The company employs a vertically integrated approach, doing design, manufacturing, distribution and customer experience in-house.
Operations and Product Range
Facility and Production
Wakefit has five manufacturing units: two in Bengaluru, two in Hosur (Tamil Nadu) and one in Sonipat (Haryana), enabled with automation like robotic arms and roller-belt systems to enhance “productivity and minimise wastage.” The fact that all facilities mattress, furniture and accessory production are under the one roof to me gives us superior cost control and quality.
Brands and Market Presence
Wakefit is now one of India's best selling D2C home and furnishings brands in terms of revenue and its products are available in 700 districts across 28 states and 6 union territories from its base in Bangalore. As of 30 September 2025, the company has a network of 125 Company Owned and Operated (COCO) stores in India across 62 cities as well as an omnichannel presence. These are mattresses (approximately 57-60% of FY24 sales), furniture (about 30%) and home décor / essentials (10–12%).
Wakefit Innovations IPO Revenue Channels
Wakefit derives most of its revenue from the sale of mattresses, furniture, home furnishings and accessories on its website, mobile app, COCO stores and online marketplaces. In FY2024, total income stood at about ₹1,017 crore; in FY2025, it grew to ₹1,305.43 crore and in H1 FY2026 (six months ended 30 September 2025) was at ₹741.30 crore, demonstrating a consistent increase. Though it registered net losses in FY23 and FY24, the loss reduced to ₹35 crore in FY25; H1FY26 turned profitable with PAT of ₹35.57 crore and improving EBITDA.
Management and Shareholding
Promoters and Shareholding
The IPO is a mix of fresh issue and offer for sale (OFS) of shares by promoters Ankit Garg, Co-founder & CEO and Chaitanya Ramalingegowda, Co-founder & Director, along with marquee investors such as Peak XV Partners, Verlinvest and funds associated with Redwood in OFS. The pre-issue share capital is 30.75 crore shares and post-issue, it will be 32.68 crore shares (including the fresh issue), with dilution coming only from the fresh piece of issuance, while OFS acts as a partial exit for current shareholders.
Board Members
The board includes the co-founders as well as professional independent and nominee directors from institutional investors, bringing experience in consumer, retail and technology. This blend supports brand governance, strategic growth and omnichannel scaling.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Wakefit Innovations IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Wakefit Innovations IPO Details
| Detail | Description |
|---|---|
| IPO Date | December 8, 2025 to December 10, 2025 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Issue Price Band | ₹185 to ₹195 per share |
| Lot Size | ₹185 to ₹195 per share |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 6,60,96,866 shares (aggregating up to ₹1,288.89 Cr) |
| Fresh Issue(Ex Market Maker) | 1,93,42,461 shares (aggregating up to ₹377.18 Cr) |
| Offer for Sale | 4,67,54,405 shares of ₹1 (aggregating up to ₹911.71 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 30,74,86,214 shares |
| Share Holding Post Issue | 32,68,28,675 shares |
Wakefit Innovations IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Mon, Dec 8, 2025 |
| IPO Close Date | Wed, Dec 10, 2025 |
| Tentative Allotment | Thu, Dec 11, 2025 |
| Initiation of Refunds | Fri, Dec 12, 2025 |
| Credit of Shares to Demat | Fri, Dec 12, 2025 |
| Tentative Listing Date | Mon, Dec 15, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Dec 10, 2025 |
Wakefit Innovations IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 76.00 | ₹14,820 |
| Individual investors (Retail) (Max) | 13 | 988.00 | ₹1,92,660 |
| S-HNI (Min) | 14 | 1,064 | ₹2,07,480 |
| S-HNI (Max) | 67 | 5,092 | ₹9,92,940 |
| B-HNI (Min) | 68 | 5,168 | ₹10,07,760 |
Wakefit Innovations IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 43.01% |
| Promoter Holding Post Issue | 36.83% |
Competitive Strength:
- • Online mattresses and a fast-growing furniture category leader with high D2C brand recall and pan-India presence.
- • Vertically integrated (own manufacturing) model, with quality, innovation and cost control and improving unit economics.
- • High pace of revenue expansion (high teens FY2022-FY2024 CAGR) and clear path to breakeven with EBITDA and profit moving upwards in H1 FY2026.
Wakefit Innovations IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 1,220.34 | 741.3 | 35.57 | 557.34 | - | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 1,050.75 | 1,305.43 | -35 | 520.57 | - | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 928.30 | 1,017.33 | -15.05 | 543.61 | 7.36 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 791.8 | 820.01 | -145.68 | 505.08 | - | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -6.58% |
| ROCE | -0.68% |
| Debt/Equity | 0.53 |
| RoNW | -6.72% |
| PAT Margin | -2.75% |
| EBITDA Margin | 7.13% |
| Price to Book Value | ₹6,373.16 Cr. |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
IPO Objectives
The funds raised from Wakefit Innovations IPO would also be for capital expenditure on 117 additional COCO regular stores to the tune of ₹30.84 crore, lease/sub-lease rent and licence fee for existing COCO stores amounting to ₹161.47 crore, purchase of new equipment and machinery worth ₹15.41 crore and marketing & advertisement to increase brand visibility costing ₹108.40 crore.) The balance quantity of 25.53 lakh shares will be used for general corporate purposes, excluding the OFS, which shall also offer a part exit and liquidity to existing investors and promoters.
Conclusion
The Wakefit Innovations IPO is an opportunity to invest in a fast-growing D2C home and furnishing brand with a deep digital footprint and a rapidly expanding offline network. With valuations looking elevated and its profitability still relatively recent, its brand strength, integrated operations and category tailwinds in organised home solutions present an interesting LTFY (long-term for you) growth story if investors feel comfortable with consumer discretionary/execution risk.
RHP:
DRHP:
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Frequently asked Questions (FAQs )
-
How big is the Wakefit Innovations IPO?
The IPO size is about ₹1,288.89 crore, with a fresh issue of ₹377.18 crore and an OFS of ₹911.71 crore.
-
Who are the promoters of Wakefit Innovations IPO?
The principal promoters are Ankit Garg and Chaitanya Ramalingegowda, supported by investors such as Peak XV Partners, Verlinvest and Redwood-linked entities.
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What is the goal of the Wakefit IPO?
The company will use the proceeds from the fresh issue for store expansion, funding working capital requirements and other general corporate purposes; it also offers an exit to the existing shareholders through OFS.
-
Where are Wakefit Innovations’ manufacturing plants?
Wakefit has five manufacturing facilities: two in Bengaluru, two in Hosur (Tamil Nadu) and one in Sonipat (Haryana).
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Which products are sold by Wakefit?
The company sells mattresses, beds, sofas, wardrobes, tables, storage furniture, furnishings and home décor products through online channels and COCO stores.
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What is the recent financial performance of Wakefit?
The total income was ₹1,017.33 crore during FY2024 and ₹1,305.43 crore during FY2025, while the losses reduced over these years; as at the half year ended 30 September 2025, total income was ₹741.30 crore and PAT was ₹35.57 crore, showing higher levels of profitability.
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