Wakefit Sets IPO Price Band at INR 185 to 195, Early Investors Eye Big Gains

Wakefit has set the price band for its upcoming initial public offering at INR 185 to INR 195 per share, valuing the home and sleep solutions company at nearly INR 6,400 crore.

The proposed listing is expected to bring significant gains for some early investors while offering only moderate outcomes for those who joined in the later funding rounds.

An analysis of the Red Herring Prospectus shows that Peak XV Partners, previously known as Sequoia Capital India, stands out as the largest beneficiary. The firm is positioned to earn around ten times its investment made nearly a decade ago. Redwood Trust is also likely to post a strong performance with returns estimated at close to eleven times.

However the scenario is considerably different for investors who participated in the company's later stages of fundraising. Verlinvest, SAI Global and Paramark KB are expected to see much smaller returns at roughly two times their investment. This indicates that the company's valuation growth had slowed in its most recent equity rounds.

Under the offer for sale component of the IPO, Peak XV Partners will sell shares worth about INR 397 crore at the upper end of the price band. Verlinvest is expected to realise around INR 199 crore while Paramark KB will draw nearly INR 50 crore. Other investors, including SAI Global and Redwood Trust, will dilute only a part of their holdings with smaller quantities of shares being offered.

Wakefit filed its Red Herring Prospectus on November 30, 2025. The company plans to raise INR 377.2 crore through a fresh issue of shares in addition to the 4.68 crore equity shares included in the offer for sale.

The prospectus shows Peak XV Partners as the largest external shareholder with a 22.47 percent stake. Verlinvest holds 9.79 percent and Investcorp owns 9.29 percent. SAI Global Investment has 5.35 percent while Elevation Capital and Paramark Fund hold 4.68 percent and 1.63 percent respectively. Among the promoters Ankit Garg owns 33.03 percent and Chaitanya Ramalingegowda holds 9.98 percent.

Financially the company reported operating revenue of INR 724 crore in the first half of the ongoing fiscal year with a net profit of INR 35.57 crore. In FY25 Wakefit recorded revenue of INR 1,274 crore, a rise of nearly 30 percent over the previous year, although it posted a net loss of INR 35 crore for the full year.