Wakefit Innovations’ initial public offering (IPO) is set to open for subscription on Monday, December 08, and will remain open until Wednesday, December 10.
The company is looking to raise ₹1,288.89 crore from the issue, comprising a fresh issue of 1.93 crore shares aggregating to ₹377.18 crore and an offer for sale of 4.68 crore shares aggregating to ₹911.71 crore.
Of the total issue size, 75% has been reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors.
The price band has been fixed at ₹185– ₹195 per share, with a lot size of 76 shares, requiring a minimum investment of ₹14,820 for retail investors. The mainboard IPO is proposed to list on both the NSE and BSE, tentatively on Monday, December 15.
Axis Capital Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
Wakefit Innovations IPO: Key points you should know
About Wakefit Innovations: The company, which began with selling mattresses, has expanded into adjacent categories of furnishings and furniture, evolving into a complete home and furnishing solutions destination. With just over nine years of operations, it claims to be the fastest homegrown player in the Indian organized home and furnishings market to achieve a total income of more than ₹10,000 million.
Product Portfolio: The company offers a wide range of mattresses with advanced sleep technology, including memory foam, latex, and foldable options. Its furniture range includes beds, sofas, wardrobes, tables, chairs, and kids’ furniture designed for comfort and durability. The furnishings category features home essentials, décor items, kitchenware, and lifestyle products to enhance everyday living.
Cross-Selling Strength: In the six months ended September 30, 2025, and in fiscals 2025, 2024, and 2023, 22.16%, 19.63%, 21.60%, and 21.35% of furnishings customers were existing customers from other categories. Similarly, 17.88%, 17.55%, 17.78%, and 17.34% of furniture customers were existing customers from other categories. This cross-selling ability has helped retain customers and increased customer lifetime value.
Financials: The company’s revenue from operations showed consistent growth, rising from ₹812.62 crore in FY23 to ₹986.35 crore in FY24 and ₹1,273.60 crore in FY25. However, net losses were reported due to higher operating costs.
It posted net losses of ₹145.68 crore in FY25, ₹15 crore in FY24, and ₹35 crore in FY23.
Key Industry Peers: The home and furnishings industry in India has evolved from a fragmented, offline market to a more organized, technology-driven, omnichannel ecosystem. It is highly competitive, with key players including Lifestyle International, Godrej and Boyce, Sheela Foam, IKEA India, Duroflex, D’Décor, and Royaloak Incorporation.
Mattresses Account for 60% of Revenue: Revenue from mattress sales has consistently represented a significant portion of operations, while growth in furniture and furnishings reflects a successful diversification strategy. For the first half of FY26, the company posted revenue of ₹7,240 million, with ₹4,390 million (60.65%) from mattresses, 29.26% from furniture, and the remaining 10% from furnishings.
Global Expansion Initiatives: In the six months ended September 30, 2025, and in Fiscal 2025, the company sold products in Japan, Nepal, the United Arab Emirates, and the United States through marketplaces. Revenue from products sold outside India was ₹13.71 million and ₹33.57 million, respectively. Pilot projects are underway to explore further international market opportunities.
Allotment and Listing Details: The Wakefit Innovations IPO allotment is expected to be finalized on Tuesday, December 11, with refunds initiated on Friday, December 12. Shares will be credited to allottees’ demat accounts on the same day following refunds.
Objectives of the Issue: Proceeds from the IPO will be used to set up 117 new COCO stores, purchase new equipment and machinery, and fund marketing and advertisement expenses. Additionally, funds will be allocated for lease, sublease rent, and license fee payments for existing COCO stores, as well as for general corporate purposes.
Offer for Sale (OFS) Participants: 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.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
