Wakefit IPO closes with 2.52x overall subscription

Home and sleep solutions brand Wakefit saw a moderate response to its IPO, which was subscribed just 2.52 times, with both QIB and retail portions receiving over 3 times bids.

According to exchange data, retail investors led the demand with a 3.17x subscription, followed by Qualified Institutional Buyers (QIBs) at 3.04x, while Non-Institutional Investors (NIIs) subscribed just 1.05x.

The IPO was open for bidding from December 8 to 10 with a price band of Rs 185–195 per share with a share lot of 76 and a minimum investment of Rs 14,175. Share allotment is expected on December 11, and the company is scheduled to list on the BSE and NSE on December 15.

According to its RHP, the company aims to raise Rs 377.2 crore through a fresh issue of shares, along with an offer for sale (OFS) of 4.68 crore equity shares worth Rs 911.7 crore, valuing the firm at around Rs 6,400 crore ($719 million). 

As part of the OFS, Peak XV will earn a 10x return on its investment, cashing out around Rs 397 crore. Verlinvest will realise about Rs 199 crore, while Paramark KB Fund will withdraw roughly Rs 50 crore at the upper end of the price band of Rs 195.

Ahead of the public subscription, the firm allotted 2.97 crore equity shares to anchor investors at Rs 195 each, raising Rs 580 crore from 33 anchors at the upper price band of Rs 195 per share. The anchor book saw participation from HDFC MF, Axis MF, Mahindra MF, Edelweiss MF, Tata MF and others.

From the fresh proceeds, Wakefit plans to use the fresh IPO proceeds for store-related lease payments, marketing and advertising, setting up new COCO stores, and purchasing equipment, with the balance earmarked for general corporate purposes.

Wakefit posted operating revenue of Rs 724 crore and a net profit of Rs 35.57 crore in the first half of FY26. In FY25, its operating revenue grew nearly 30% to Rs 1,274 crore from Rs 986 crore in FY24, though the company ended the year with a net loss of Rs 35 crore.