Wakefit IPO subscribed 30% so far on Day 2 of share sale; retail, NII lead - Check GMP

Wakefit IPO sees robust subscription on Day 2 of share sale on December 9.

Wakefit IPO got subscribed 30 percent on the second day of the initial public offering on Tuesday so far. The Rs 1,289-crore initial share sale got bids for 1.03 crore shares against 3.63 shares on offer, translating to 29 percent subscription, according to the NSE data till 1 p.m.

Category-wise, shares meant for retail individual investors (RIIs) of the home and furnishings company Wakefit Innovations Ltd received 1.36 times subscription, while the quota for Non-Institutional Investors subscribed 14 percent.

Earlier it collected Rs 580 crore from anchor investors.

According to platforms tracking the grey market activities, the shares of Wakefit Innovations are commanding a GMP of around 3 percent, according to IPO Watch

Wakefit proposes to utilise the proceeds from the fresh issue worth Rs 31 crore for setting up 117 new COCO-Regular Stores; Rs 15.4 crore towards purchase of new equipment and machinery; Rs 161.4 crore for expenditure for lease and sub-lease rent and license fee payments for existing stores.

Additionally, Rs 108.4 crore will be used towards marketing and advertisement expenses for enhancing the awareness and visibility of the brand, and the remaining amount will be used for general corporate purposes.

Incorporated in 2016, Wakefit is one of the fastest homegrown players in the home and furnishings market in India among organised peers to achieve a total income of more than Rs 1,000 crore as of March 31, 2024.

Wakefit operates five manufacturing facilities, of which two are situated in Bengaluru, Karnataka, two in Hosur, Tamil Nadu and one in Sonipat, Haryana.

Wakefit reported a revenue from operations of Rs 724 crore and profit of Rs 35.5 crore for the six months ending September 2025.

Wakefit IPO share allotment is expected by December 11, while the shares are proposed to be listed on December 15.