Wakefit Innovations IPO: Price band set at ₹185-195 per share; check key dates, issue details, more

Wakefit Innovations IPO price band has been fixed in the range of ₹185 to ₹195 per equity share of the face value of Re 1. The Wakefit Innovations IPO date of subscription is scheduled for Monday, December 8 and will close on Wednesday, December 10. The allocation to anchor investors for the Wakefit Innovations IPO is scheduled to take place on Friday, December 8. The floor price is 185 times the face value bearing the equity shares and the cap price is 195 times the face value of the equity shares. The Wakefit Innovations IPO lot size is 76 equity shares and in multiples of 76 equity shares thereafter. Wakefit Innovations IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. Tentatively, Wakefit Innovations IPO basis of allotment of shares will be finalised on Thursday, December 11 and the company will initiate refunds on Friday, December 12 while the shares will be credited to the demat account of allottees on the same day following refund. Wakefit Innovations share price is likely to be listed on BSE and NSE on Monday, December 15. Wakefit Innovations IPO details The company's initial public offering consists of a fresh issue of equity shares worth up to ₹377.1 crore, along with an offer-for-sale (OFS) of 4.67 crore shares by the selling shareholders, as detailed in the red herring prospectus (RHP). In the OFS, the promoters -- Ankit Garg and Chaitanya Ramalingegowda, along with other selling stakeholders such as Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP, and Paramark KB Fund I -- will be selling their shares. Wakefit, which claims to be India's largest direct-to-consumer (D2C) home and furnishings company by revenue, plans to allocate ₹30.8 crore of the fresh issue proceeds to set up 117 new company-owned and company-operated (COCO) regular stores, and ₹161.4 crore for rent payments related to lease and sub-lease for current COCO regular stores. Furthermore, ₹15.4 crore will be dedicated to acquiring new equipment and machinery, ₹108.4 crore will be used for marketing and advertising efforts to improve brand awareness and visibility, and the remaining funds will be directed towards general corporate purposes. Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) are serving as the merchant bankers for the Wakefit Innovations IPO, while MUFG Intime India Pvt. Ltd. functions as the issue's registrar. Company Details Wakefit, established in 2016, has become one of the quickest-growing homegrown brands in India's home and furnishings sector among its organized competitors, reaching a total income exceeding ₹1,000 crore as of March 31, 2024. The company offers a diverse selection of mattresses, furniture, and home accessories, distributing them through its own channels (including its website and COCO-Stores) as well as external channels (such as major e-commerce platforms and multi-brand stores). Wakefit runs five manufacturing plants, with two located in Bengaluru, Karnataka, two in Hosur, Tamil Nadu, and one in Sonipat, Haryana. Financially, Wakefit reported ₹724 crore in revenue from operations and a profit of ₹35.5 crore for the six-month period that ended on September 30, 2025. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.