Wakefit Sets December 8 Launch for ₹1,400-Crore IPO

Bengaluru-based home and furnishings brand Wakefit Innovations Ltd is set to open its initial public offering (IPO) on December 8, aiming to raise about ₹1,400 crore. The issue will close on December 10, while anchor investors are scheduled to receive share allotments on December 5, according to the company’s red herring prospectus (RHP).

The public offer comprises a fresh issue of shares worth ₹377.1 crore and an offer-for-sale (OFS) of 4.67 crore shares by promoters Ankit Garg and Chaitanya Ramalingegowda, along with shareholders including Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP and Paramark KB Fund I. Market sources indicate the total issue size will be around ₹1,400 crore.

Wakefit plans to use ₹31 crore from the fresh proceeds to set up 117 new COCO-Regular stores, ₹15.4 crore to purchase equipment and machinery, and ₹161.4 crore toward lease rentals and licence fees for existing outlets. Another ₹108.4 crore is earmarked for marketing and advertising, with the balance allocated for general corporate purposes.

Earlier in November, the company secured ₹56 crore in a pre-IPO round from DSP India Fund and 360 ONE Equity Opportunities Fund.

Founded in 2016, Wakefit has grown into one of India’s fastest-scaling homegrown furniture and furnishings brands, crossing ₹1,000 crore in total income as of March 31, 2024. Its portfolio spans mattresses, furniture and home décor, sold through its website, COCO stores, major e-commerce platforms and multi-brand retail partners.

The company operates five manufacturing facilities—two in Bengaluru, two in Hosur, and one in Sonipat—equipped with automated machinery, including robotic arms and conveyor systems designed to boost efficiency and reduce waste.

For the six months ending September 30, 2025, Wakefit reported ₹724 crore in operating revenue and a profit of ₹35.5 crore.

Axis Capital, IIFL Capital Services and Nomura Financial Advisory and Securities are acting as the book-running lead managers. Wakefit’s equity shares will be listed on the BSE and NSE.