Wakefit Solutions share price made a muted stock market debut on Monday, December 15. The shares of Wakefit Solutions were listed at the same price as the IPO upper price band of ₹195.
This means that the IPO allottees made no listing gain over the Wakefit Solutions IPO listing.
Ahead of listing, the shares of Wakefit Solutions were trading at at a premium of ₹7, as per Investorgain. This means that the GMP of Wakefit Solutions IPO is +7.
Wakefit Solutions IPO details
The IPO received a modest response, with overall subscriptions reaching 2.52 times. Retail investors led the demand, subscribing 3.17 times their allotted portion, while Qualified Institutional Buyers (QIBs) bid 3.04 times. The Non-Institutional Investor (NII) segment saw comparatively lower interest, subscribing 1.05 times.
The company raised a total of ₹1,288.89 crore through the offering, which included a fresh issue of 1.93 crore shares amounting to ₹377.18 crore and an offer for sale (OFS) of 4.68 crore shares valued at ₹911.71 crore.
The issue had a lot size of 76 shares, translating to a minimum investment of ₹14,820 for retail investors at the upper end of the price band.
Proceeds from the fresh issue will be utilised for multiple purposes, such as capital expenditure to launch 117 new COCO–Regular stores, fulfilling lease and rental commitments for existing outlets, purchasing equipment and machinery, strengthening marketing and advertising initiatives, and meeting general corporate expenses.
The IPO was open for subscription from December 8 to December 10, with a price band fixed between ₹185 and ₹195 per share.
(This is a developing story)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
