Direct-to-consumer (D2C) furniture and mattress brand Wakefit has officially filed its Red Herring Prospectus (RHP) for an upcoming initial public offering (IPO). The public issue will include a fresh issue of up to ₹377.2 crore and an offer for sale (OFS) of up to 4.68 crore equity shares. This marks one of the most anticipated IPOs in India’s D2C and home solutions segment, given Wakefit’s strong brand presence and rapid expansion over the past few years.
The IPO is scheduled to open for public subscription on December 8 and will close on December 10, offering a three-day bidding window to investors. As per the RHP, anchor investor bidding will be conducted on December 5 (Friday), ahead of the main offering. Wakefit’s shares are expected to be listed on the stock exchanges on December 15, subject to regulatory approvals.
Key Details of Wakefit IPO Structure
When the company filed its draft red herring prospectus (DRHP) earlier, it had proposed a fresh issue of up to ₹468 crore along with an OFS of up to 5.8 crore equity shares. However, those numbers were revised before the RHP filing.
The adjustment comes after Wakefit undertook a private placement of 28.7 lakh shares at ₹195 per share, raising ₹56 crore. Due to this pre-IPO fundraising round, the fresh issue size has been reduced from ₹468 crore to ₹377.2 crore, and the OFS component has decreased from 5.8 crore shares to 4.68 crore shares.
Promoters & Key Investors to Offload Shares via OFS
Wakefit’s OFS will see participation from both founders and several prominent investors. The promoters—
- Ankit Garg
- Chaitanya Ramalingegowda
—will be selling part of their stake in the company through the OFS route.
In addition, multiple investors are set to offload shares in the IPO, including:
- Peak XV Partners (formerly Sequoia Capital India)
- Nitika Goel
- Redwood Trust
- SAI Global India Fund I
- Paramark Ventures
- Verlinvest
The involvement of marquee investors underscores the significant institutional interest Wakefit continues to attract as it scales across India.
Wakefit’s Growth Journey
Founded in 2016, Wakefit began as an online mattress brand and has since expanded into a full-fledged home and furniture solutions company. With a strong foothold in the D2C ecosystem, the brand has leveraged digital-first retailing, in-house manufacturing, and competitive pricing to capture a large share of India’s mattress market.
Today, Wakefit offers a wide range of products including mattresses, beds, wardrobes, sofas, ergonomic furniture, and home accessories. Its rapid growth, combined with rising consumer demand for quality home furniture, has positioned the company as one of the leaders in India’s D2C segment.
Conclusion
Wakefit’s IPO marks a significant milestone not just for the brand but for the broader D2C market in India. With strong investor backing, consistent revenue growth, and increasing brand visibility, Wakefit is poised to attract significant attention as it heads toward its stock market debut on December 15
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