Wakefit Innovations IPO: The initial public offering (IPO) of Wakefit Innovations sailed through on the final day of the bidding process on Wednesday, December 10, led by institutional and retail demand. At the end of the second day, the mainboard offer was booked 39%.
Meanwhile, the grey market premium (GMP) for the Wakefit IPO slumped sharply amid mixed reviews of the initial share sale.
Wakefit Innovations IPO Subscription Status
According to BSE data, the ₹1,289-crore issue received 9,16,72,644 bids against 3,63,53,276 shares on offer, resulting in a subscription status of 2.52 times.
The retail investor category continued to show strong interest, garnering 3.17 times bids. The non-institutional investors (NII) segment saw 1.05 times subscription. Meanwhile, the qualified institutional buyers (QIBs) quota was subscribed 3.04 times at the end of the third day.
Wakefit Innovations IPO GMP
Wakefit Innovations IPO GMP today slumped to nil. This means that shares of Wakefit Innovations are trading at par with the upper end of the price band in the grey market, and the listing could occur at the IPO price.
The lowest GMP for Wakefit Innovations IPO is ₹0, while the highest GMP is ₹36 in the last 11 sessions.
Wakefit Innovations IPO Details
Ahead of the IPO, Wakefit also raised ₹580 crore from anchor investors. Some of the marquee investors included Steadview Capital, WhiteOak Capital, Info Edge and Temasek-backed Capital 2B.
The IPO comprised a fresh issue of ₹377.18 crore and an offer for sale (OFS) of 4,67,54,405 equity shares, valued at around ₹912 crore, taking the total size to ₹1,289 crore. In the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I, have offloaded shares.
Wakefit Innovations IPO price band was set at ₹185 to ₹195 per share. Investors could apply for the offer in lots of 76 shares.
The company plans to use ₹31 crore out fresh proceeds to set up 117 new COCO-Regular Stores, ₹15.4 crore for the purchase of new equipment and machinery, ₹161.4 crore for lease and sub-lease rentals and license fee payments for existing stores, and ₹108.4 crore for marketing and advertising to boost brand visibility; the remaining funds will go towards general corporate purposes.
Post-issue, promoter shareholding is expected to fall to around 37%, from the current 43.70%.
Founded in 2016, Wakefit is among the fastest-growing homegrown players in India’s home and furnishings sector. For the six months ending September 2025, the company reported ₹724 crore in revenue from operations and a ₹35.5 crore profit.
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