Wakefit IPO opens, retail investors show strong interest
Wakefit Innovations, known for its home and furniture products, has kicked off its IPO with shares priced at ₹185-195 each, valuing the company around ₹6,400 crore.
On day one, overall subscription was 7%, but retail investors showed real enthusiasm with 33% participation.
If you're curious about investing, the minimum bid is one lot (76 shares) costing ₹14,820.
What does Wakefit actually do?
Started in 2016, Wakefit designs and sells mattresses, furniture, and decor directly to customers through its website and stores.
With five manufacturing units across Bengaluru, Hosur, and Sonipat, it pulled in ₹1,273 crore revenue in FY25 with a profit of ₹35.5 crore as it keeps investing to grow.
Should you care about this IPO?
Analyst opinions are mixed: SBI Securities says "Avoid" due to high valuation (4.7x sales), while BP Equities and SMIFS like the company's growth potential.
The gray market premium is currently ₹36 per share—hinting at an 18% possible listing gain—but that could change quickly.
The IPO closes Wednesday, December 10; allotment is Thursday, December 11; listing happens December 15 on BSE and NSE.