Wakefit Innovations Ltd filed draft papers with SEBI on Thursday for an initial public offering comprising a fresh issue of ₹468.22 crore and an offer-for-sale of up to 5.8 crore equity shares. The company may also consider a pre-IPO placement of up to ₹93.64 crore, which would reduce the fresh issue amount accordingly.

The direct-to-customer home furnishing company plans to list on both NSE and BSE. Promoters Ankit Garg and Chaitanya Ramalingegowda will sell up to 77.3 lakh and 44.5 lakh shares, respectively through the OFS. Other selling shareholders include Peak XV Partners Investments VI, Verlinvest S.A. and Investcorp funds among others.

ICICI Securities, Axis Capital, IIFL Capital and Nomura Financial Advisory are the book-running lead managers, with MUFG Intime India serving as registrar.

The company will use IPO proceeds primarily for expansion, setting up 117 new company-owned company-operated regular stores and one jumbo store. It has allocated ₹31.60 crore for lease and rental payments for existing stores and ₹20 crore for marketing and advertising expenses. Remaining funds will support capital expenditure for new equipment and general corporate purposes.

Wakefit reported total income of ₹1,000 crore for FY24, with revenue growing at 24.87 per cent CAGR from FY22 to FY24. Its mattresses business generated ₹567.52 crore in FY24, while furniture and furnishings contributed ₹301.22 crore and ₹117.62 crore, respectively.

Published on June 27, 2025