Wakefit Files DRHP with SEBI for IPO; Plans to Raise ₹468.2 Crore via Fresh Issue

30 Jun 2025 , 12:25 PM

Wakefit Innovations Ltd, the Bengaluru-based home and furniture brand, has taken its first major step toward going public by filing draft papers with SEBI. The IPO plan includes a fresh equity issue of ₹468.2 crore and a secondary sale of 5.84 crore shares by existing shareholders.

Founders Ankit Garg and Chaitanya Ramalingegowda, along with backers like Peak XV Partners, Verlinvest, Redwood Trust, and Investcorp, will offload part of their holdings as part of the offer for sale.

Wakefit intends to use part of the proceeds to grow its offline presence including plans to open 117 regular stores and one larger-format outlet. A portion of the capital will go toward machinery upgrades (₹15.4 crore), store-related lease expenses (₹145 crore), and brand-building efforts (₹108.4 crore) across key markets.

The company is also open to raising up to ₹93.6 crore in a pre-IPO placement, which would reduce the size of the fresh issue. The IPO will be managed by Axis Capital, IIFL Capital, and Nomura, who are acting as the lead book-running managers. Post-listing, the company’s shares are expected to trade on both the BSE and NSE, subject to regulatory approvals.

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