Peak XV Partners-backed Wakefit IPO to open on December 8, offer size may be nearly Rs 1,300 crore

Wakefit Innovations IPO News

Peak XV Partners, Elevation Capital, and Investcorp-backed D2C home and furnishings company Wakefit Innovations has filed Red Herring Prospectus with the Registrar of Companies to launch its nearly Rs 1,300-crore initial public offering (IPO) on December 8.

The company filed IPO papers with the Securities and Exchange Board of India (SEBI) in June and the said draft document was approved by the markets regulator in October this year.

The one-day IPO anchor book will be launched on December 5, while the offer will remain open for the public till December 10. The company will finalise IPO share allotment by December 11 and will list its equity shares on the BSE & NSE effective December 15.

Bengaluru-based Wakefit Innovations aims to raise Rs 377.1 crore via issue of fresh shares, while existing shareholders including promoters will be selling up to 4.67 crore equity shares via offer-for-sale.

Apart from promoters, Peak XV Partners Investments, Redwood Trust, Verlinvest, SAI Global India Fund, and Paramark KB Fund are the selling shareholders in the offer-for-sale.

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Perhaps, the total offer size may be Rs 1,289 crore and the company is valued at Rs 6,373 crore assuming the pre-IPO round price of Rs 195 per share is the upper price band of the IPO.

The company has reduced its fresh issue as well as offer-for-sale size to Rs 468.2 crore, and 5.8 crore shares, respectively, as per its DRHP.

Before the launch, Wakefit, founded by Ankit Garg and Chaitanya Ramalingegowda in 2016 as a sleep and home solutions provider, has already raised Rs 56 crore in November this year by issuing 28,71,794 equity shares at Rs 195 per share in pre-IPO round to DSP India Fund, and 360 ONE Equity Opportunities Fund.

After Ankit Garg (33.03 percent stake), Peak XV Partners Investments is the largest shareholder in the company with 22.47 percent stake, followed by Chaitanya Ramalingegowda (9.98 percent), Verlinvest (9.79 percent), and Investcorp (9.29 percent).

Wakefit that claims the largest D2C home and furnishings company in India in terms of revenue intends to spend Rs 30.8 crore of fresh issue proceeds for setting up of 117 new COCO – Regular Stores, and Rs 161.4 crore for lease, sub-lease rent and license fee payments for existing COCO – Regular Stores.

Further, Rs 15.4 crore will be used for purchase of new equipment and machinery, Rs 108.4 crore for marketing and advertisement expenses toward enhancing the awareness and visibility of brand, and the remainder funds for general corporate purposes.

The company that evolved from a sleep solutions player into a one-stop destination for home and furnishing solutions provides mattresses, furniture, and furnishing and décor products, reporting profit of Rs 35.5 crore on revenue of Rs 724 crore in six months period ended September 2025.

However, in the year ended March 2025, it has posted loss of Rs 35 crore, widening from loss of Rs 15 crore in previous year but revenue during the same period soared 29.1 percent to Rs 1,273.7 crore, up from Rs 986.4 crore.

Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) are acting as the merchant bankers for the Wakefit Innovations IPO.