Shares of the home and furnishing company Wakefit made a flat debut against the issue price of Rs 195.
On the BSE, Wakefit shares were listed at Rs 194.10, a discount of 0.46 percent.
Analysts said the IPO valuation had been "rerated" on metrics such as price-to-sales, which were higher than some peers.
Wakefit shares will be listed on both NSE and BSE on December 15, following a 2.52 times subscription to its Rs 1,289-crore issue.
Wakefit IPO share allotment is expected by December 11, while share listing is proposed on December 15.
Sheela Foam outperforms Wakefit across revenue, profitability, returns and mattress volumes, underscoring its stronger financial footing in the competitive mattress market.
The home-solutions brand plans faster furniture-led growth and a major Tier-2 retail rollout as its Rs 1,289-crore IPO opens for public subscription.
Platforms tracking unofficial market activity pegged the grey market premium (GMP) for both issues as high as 31 percent.
Shares of both the issues will be listed on the stock exchanges on December 15.
Wakefit shares are expected to be allotted by December 11, while listing is schedule to take place on December 15.
The D2C brand's IPO filing reveals strong revenue growth, aggressive capex plans, a huge founder and investor windfall.
The company is looking to raise around Rs 1,500-2,000 crore, or about $200 million through the IPO, sources told Moneycontrol.
Wakefit, which sells on Flipkart and Amazon, said 30-35 percent of its sales comes from e-commerce marketplaces and a majority, around 65-70 percent, comes from its physical stores and its website
Bengaluru-based furniture startup Wakefit has come up with a interesting twist to NR Narayana Murthy's suggestion about working 70 hours every week to improve work productivity and urged everyone to focus on rest and recuperation, by asking them to sleep for 70 hours every week.
With the price of hotels in Ahmedabad skyrocketing thanks to the hugely-anticipated World Cup final tomorrow, furniture and mattress brand Wakefit has come up with a unique promotional stunt.