Wakefit IPO Day 1: Issue booked 15% so far. Check GMP, review, subscriptions, key details, more. Apply or not?

The initial public offering (IPO) of Wakefit Innovations Ltd, a home and furnishings company, is set to open for subscription from December 8 to December 10. Wakefit IPO price band has been set at ₹185-195 per share, which values the Bengaluru-based company at approximately ₹6,400 crore.

Wakefit IPO GMP today is ₹36. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Wakefit is indicated at ₹231 apiece, which is 18.46% higher than the IPO price of ₹195.

Previously, the Wakefit IPO raised ₹186 crore from three investors: Steadview Capital, WhiteOak Capital, InfoEdge, and Capital 2B, which is backed by Temasek, ahead of the public subscription opening for its initial share sale.

Wakefit IPO lot size is 76 equity shares, and additional shares can be purchased in multiples of 76. In the public offer, Wakefit has allocated no less than 75% of the shares for qualified institutional buyers (QIB), a maximum of 15% for non-institutional investors (NII), and up to 10% reserved for retail investors.

Initially, the basis for allotment of shares for the Wakefit Innovations IPO will be determined on Thursday, December 11, and refunds will be processed on Friday, December 12. Shares will be credited to the demat accounts of allottees on the same day as the refunds. Wakefit Innovations shares are expected to debut on the BSE and NSE on Monday, December 15.

Wakefit IPO GMP today

Wakefit IPO GMP today is ₹36. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Wakefit is indicated at ₹231 apiece, which is 18.46% higher than the IPO price of ₹195.

According to the grey market activities over the past nine sessions, today's IPO GMP is trending upward, suggesting a solid listing. Experts indicate that the lowest GMP is ₹0.00, whereas the highest GMP reaches ₹36.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Wakefit IPO review

Swastika Investmart has noted that the company continues to incur losses, with a significant net loss anticipated for FY25 despite an increase in revenue. The EBITDA margin remains in the low single digits, indicating limited operational efficiency and high marketing expenditures.

The brokerage said that in contrast to established competitors like Sheela Foam, Wakefit exhibits negative earnings per share, negative return on net worth, and inferior financial stability. Although the company is facing losses, its valuation seems high when assessed against profitability and return metrics. Considering the poor profitability, negative return on net worth, and inflated valuation, the brokerage has assigned an AVOID rating to this IPO.

Wakefit IPO Subscription status

Wakefit IPO subscription status is 15% on day 1. The retail portion is subscribed 73%, and NII portion has been booked 7%, Qualified Institutional Buyers (QIBs) portion is yet to receive bids.

The company has received bids for 55,12,584 shares against 3,63,53,276 shares on offer, at 17:00 IST, according to data on BSE.

Wakefit IPO details

The public offering includes a new issuance of equity shares amounting to ₹377.18 crore and an offer-for-sale (OFS) of 4,67,54,405 shares, valued at approximately ₹912 crore, bringing the overall size of the issue to ₹1,289 crore.

In the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders such as Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I, will sell shares.

After the share sale, the promoters' ownership will decrease to about 37 percent from the current 43.70 percent.

Wakefit plans to allocate ₹31 crore from the fresh issue for the establishment of 117 new COCO-Regular Stores; ₹15.4 crore for acquiring new equipment and machinery; and ₹161.4 crore for lease, sub-lease rent, and license fee payments for current stores.

Furthermore, ₹108.4 crore will be dedicated to marketing and advertising efforts to improve brand awareness and visibility, while the remaining funds will be used for general corporate purposes.

Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) are serving as the merchant bankers for the Wakefit Innovations IPO, while MUFG Intime India Pvt. Ltd. functions as the issue's registrar.

Company details

Wakefit, founded in 2016, has quickly grown into one of the fastest-growing indigenous brands in India's home and furnishings industry among its organized rivals, achieving a total revenue exceeding ₹1,000 crore as of March 31, 2024.

The brand provides a wide range of mattresses, furniture, and home accessories, which it sells through its own channels (including its website and company-owned retail stores) as well as through external channels (like major e-commerce sites and multi-brand outlets). Wakefit operates five manufacturing facilities, with two based in Bengaluru, Karnataka, another two in Hosur, Tamil Nadu, and one in Sonipat, Haryana.

In terms of finances, Wakefit reported ₹724 crore in operational revenue and a profit of ₹35.5 crore for the six-month period ending on September 30, 2025.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.