Wakefit Innovations has fixed the price band for its upcoming public issue at ₹185 to ₹195 per equity share. The Bengaluru-based company will open its ₹1,288-crore IPO for subscription on 8 December, closing on 10 December, with shares proposed to list on the NSE and BSE. Anchor bidding is scheduled for 5 December. At the upper end of the band, the company’s valuation stands at approximately ₹6,373 crore.

Wakefit IPO

The public issue includes a fresh issue of ₹377.18 crore and an offer for sale totalling ₹911.7 crore. The OFS will see the sale of up to 4.67 crore shares by promoters and investors. Co-founders Ankit Garg and Chaitanya Ramalingegowda will offload 77.29 lakh and 44.52 lakh shares respectively. Other selling shareholders include Peak XV Partners, Redwood Trust, Verlinvest S.A., SAI Global India Fund I and Paramark KB Fund I, among others.

The company has recently undertaken a private placement of 28.7 lakh shares at ₹195 each amounting to ₹56 crore. Wakefit said the proceeds from the fresh issue will be used to expand its retail presence, strengthen operations, and increase marketing and advertising efforts.

Subscription Window

Wakefit plans to use part of the capital for setting up 117 new stores and investing in equipment and machinery for its current outlets. It is also allocating funds towards licence fees for existing stores as part of its broader omnichannel expansion strategy. Founded in 2016, the company sells mattresses, pillows, bed frames, furniture and home furnishings, operating across online platforms and offline stores.

Based on diluted FY25 earnings, the issue’s price band reflects a price-to-earnings ratio of 160.87 times at the lower end and 169.57 times at the upper end. Investors can place bids for a minimum of 76 shares and in multiples thereafter. Wakefit’s weighted average return on net worth for the last three financial years is 9.09 per cent.

For the six months ending 30 September 2025, Wakefit posted operating revenue of ₹724 crore and a net profit of ₹35.6 crore. In FY25, revenue rose 29 per cent year-on-year to ₹1,273.7 crore, while net loss widened to ₹35 crore from ₹15 crore the previous year. The company aims to reach close to 220 stores by FY28.

Financial Timelines Set

The basis of allotment is scheduled for finalisation on 11 December. Refunds and unblocking of ASBA accounts are expected on 12 December, with shares credited to demat accounts the same day. The listing is likely to take place on or around 15 December. Axis Capital, IIFL Capital and Nomura are the book-running lead managers, while MUFG Intime India serves as the registrar.

Wakefit continues to position itself as a leading player in India’s sleep and home solutions market, riding on growing consumer demand for mattresses and home furniture. The IPO marks its next phase of formal capital market entry as it scales operations.

Startups IPO

India’s startup ecosystem has seen a steady rise in IPO-bound companies over the past two years. A combination of revenue maturity, diversified product lines and expanding offline presence has encouraged several consumer-focused startups to evaluate public listings. Wakefit’s IPO follows offerings from digital-first and omnichannel brands seeking long-term capital for expansion, signalling sustained investor interest in consumer retail growth. As public markets stabilise, analysts expect more mid-sized startups to pursue listings, particularly those operating in profitable or near-profitable categories with strong brand recall.