Home goods firm sets Rs 185–195 price band, targets Rs 1,289 crore IPO
India’s Wakefit Innovations has secured Rs 580 crore from anchor investors ahead of its initial public offering, the home and furnishings company said in a regulatory filing. The IPO opens for subscription on 8 December and will close on 10 December.
Wakefit has set a price band of Rs 185–195 per share, valuing the company at about Rs 6,400 crore. Trading of its shares is expected to begin on 15 December.
The Rs 1,289 crore share sale includes a fresh issue of up to Rs 377.18 crore and an offer for sale (OFS) of 4,67,54,405 shares worth nearly Rs 912 crore. According to the BSE disclosure, Wakefit allotted 29,743,590 shares to anchor investors at Rs 195 each.
Global and domestic institutions, including HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital and Amundi Funds New Silk Road participated in the anchor round. Mutual funds such as HDFC MF, Axis MF, Mirae Asset MF, Nippon India MF, Tata MF, HSBC MF, Bandhan MF, Edelweiss MF and Mahindra Manulife MF were also allocated shares.
Promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders, Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP and Paramark KB Fund I, will pare their stakes through the OFS. Promoter holding will drop to around 37 per cent from 43.70 per cent after the issue.
The company plans to use proceeds from the fresh issue to set up 117 new COCO-Regular stores (Rs 31 crore), purchase equipment and machinery (Rs 15.4 crore), pay lease and licence fees for existing outlets (Rs 161.4 crore), fund marketing and advertising (Rs 108.4 crore) and for general corporate purposes.
Wakefit raised Rs 56 crore in a pre-IPO round last month from DSP India Fund and 360 ONE Equity Opportunities Fund.
Founded in 2016, Wakefit is among the fastest-growing domestic companies in India’s organised home and furnishings market, having crossed Rs 1,000 crore in total income as of 31 March 2024. For the six months ended 30 September 2025, the company reported Rs 724 crore in operating revenue and Rs 35.5 crore in profit.
The company sells mattresses, furniture and home products through its online platform, COCO stores and external marketplaces. It runs five manufacturing facilities, two in Bengaluru, two in Hosur and one in Sonipat, equipped with imported machinery and automation systems, including robotic arms and roller belts.
