Wakefit's ₹1,289cr IPO opens today: Should you subscribe?
What's the story
Wakefit Innovations, a popular home and furnishings brand backed by Peak XV Partners, Elevation Capital, and Investcorp, has opened its initial public offering (IPO) today. The ₹1,289 crore issue will remain open for subscription until December 10, 2025. The company has set the price band for its first offering at ₹185-195 per share. So, should you subscribe? Let's find out.
Investment specifics
IPO details and investor participation
The Wakefit IPO consists of a fresh issue of shares worth ₹377.18 crore and an offer-for-sale (OFS) of 4.67 crore shares worth around ₹912 crore. This brings the total size to ₹1,289 crore. Retail investors can apply for a minimum of one lot comprising 76 shares, which would cost ₹14,820 at the upper end of the price band.
Investor interest
Retail and non-institutional investor response
As of now, the Wakefit IPO has witnessed a 7% overall subscription on Day 1. Retail investors have been the most active, accounting for 33% of the demand. Non-institutional investors have also shown interest, with their participation standing at 3%. SBI Securities has rated the issue as 'Avoid,' while BP Equities and SMIFS Ltd have recommended it as a 'Subscribe.'
Market performance
Gray market premium and anchor book
The latest gray market premium for the Wakefit Innovations IPO is ₹36 per share, which indicates an estimated listing gain of roughly 18.46%. However, it's important to note that GMPs are only the directional indicators of sentiment in the unlisted market and tend to fluctuate sharply. Ahead of the opening, Wakefit raised ₹580 crore from anchor investors including Ashoka Whiteoak, and HDFC Life among others.
Company overview
Business model and financial performance
Founded in 2016, Wakefit has become one of the fastest-growing home-grown brands in the home and furnishings space. It reported an operating revenue of ₹1,273 crore in FY25. For the six months ending September 30, 2025, its revenue was ₹724 crore with a profit of ₹35.5 crore. The firm's product range includes mattresses, furniture and furnishings sold via its own channels as well as external marketplaces and multi-brand outlets.