Wakefit Innovations prepares for ₹468 crore IPO
Wakefit Innovations, the Bengaluru-based home and sleep solutions brand, is planning to raise up to ₹468.2 crore through an IPO.
The offer includes both new shares and a sale of 5.84 crore shares by existing investors.
Over ₹1,000 crore revenue in FY24
Started in 2016, Wakefit makes mattresses, furniture, and home accessories—think beds, sofas, and more—for modern Indian homes.
The company pulled in over ₹1,000 crore revenue in FY24, selling through its website, e-commerce platforms, and various stores across India.
IPO will be managed by Axis Capital, IIFL, Nomura
Wakefit plans to use the funds to open more stores (117 regular plus one jumbo), invest in new machinery, cover lease costs for retail spaces, and boost marketing.
The IPO will be managed by Axis Capital, IIFL Capital Services, and Nomura; some shareholders will partially cash out through this sale.