Wakefit trims issue size in RHP, IPO to open on December 8

Wakefit, the home and sleep solutions brand, filed its Red Herring Prospectus (RHP) on November 30, 2025, for its IPO. The company plans 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.

The issue will open for subscription on December 5 and close on December 8, 2025, while the anchor investor bidding will open on December 5.

According to the company’s RHP, the Bengaluru-based firm has trimmed its IPO size from the earlier DRHP, which proposed a fresh issue of Rs 468 crore and an OFS of 5.84 crore shares.

The IPO is being managed by Axis Capital, IIFL Capital, and Nomura as the book-running lead managers, while MUFG Intime is serving as the registrar.

Peak XV will offload the largest portion of the OFS with 2 crore shares, accounting for about 43.6% of the total. Verlinvest and Paramark Ventures will sell 1 crore and 25.54 lakh shares, respectively. Other sellers include Redwood Trust, SAI Global, and additional investors. Co-founders Ankit Garg and Chaitanya Ramalingegowda will together divest 1.21 crore shares in the OFS.

As per the RHP, Peak XV is the largest external shareholder with a 22.47% stake, followed by Verlinvest and Investcorp at 9.79% and 9.29%, respectively. SAI Global Investment holds 5.35%, while Elevation Capital and Paramark Fund own 4.68% and 1.63%. Among the promoters, Ankit Garg holds the largest stake at 33.03%, followed by Chaitanya Ramalingegowda with 9.98%.

From the fresh IPO proceeds, Wakefit plans to allocate Rs 161.5 crore towards leasing, sub-leasing, and licence fee payments for its existing stores. Another Rs 108.4 crore is earmarked for marketing and advertising. The company will spend Rs 30.8 crore on expanding and setting up 117 new COCO stores, and Rs 15.4 crore on purchasing new equipment and machinery. The remaining funds will be used for general corporate purposes.

Financially, Wakefit reported operating revenue of Rs 724 crore in the first half of FY26, with a net profit of Rs 35.57 crore for the period. In FY25, the company posted nearly 30% YoY growth in operating revenue, rising to Rs 1,274 crore from Rs 986 crore in FY24, but recorded a net loss of Rs 35 crore for the year.