Wakefit IPO Day 2: Issue Subscribed 27% So Far, Retail Portion Fully Booked

SUMMARY

D2C mattress and furniture company Wakefit’s IPO was subscribed 27.4% till 12:38 IST on the second day of bidding

The public offering saw high interest from retail investors, with their portion oversubscribed 1.3X. They placed bids for 87.8 Lakh shares against 66.1 Lakh shares reserved for them

Qualified institutional buyers (QIBs) showed the least interest in the issue, bidding for only 10,488 shares as against 1.98 Cr shares on offer

D2C mattress and furniture company Wakefit’s IPO was subscribed 27.4% till 12:38 IST on the second day of bidding. The issue received bids for 1 Cr shares out of the total 3.6 Cr shares on offer.

The public offering saw high interest from retail investors, with their portion oversubscribed 1.3X. They placed bids for 87.8 Lakh shares against 66.1 Lakh shares reserved for them.

Non-institutional investors’ (NIIs) category saw 13.5% subscription, getting bids for 13.1 Lakh shares against 99.1 Lakh shares reserved for them. Out of this, investors with bidding amounts of INR 2 Lakh to INR 10 Lakh bid for 9.1 Lakh shares against 33 Lakh shares reserved for them.

Qualified institutional buyers (QIBs) showed the least interest in the issue, bidding for only 10,488 shares as against 1.98 Cr shares on offer.

Wakefit’s IPO includes a fresh issue of equity shares worth up to INR 377.2 Cr and an offer for sale of up to 4.68 Cr shares. The company has fixed the price band for the issue at INR 185 to INR 195 per share. At the upper end of the band, the public issue values Wakefit at INR 6,373 Cr (around $710 Mn).

The IPO is expected to close tomorrow, with the shares expected to list on the bourses on December 15.

Founded in 2016 by Ankit Garg and Chaitanya Ramalingegowda, Wakefit sells mattresses, pillows, bed frames, and mattress protectors through its online platform and offline stores.

The company has over 3,070 SKUs in its portfolio. Wakefit has raised more than $148 Mn in funding to date from investors like Peak XV Partners, Investcorp, Verlinvest, and SIG.

Last week, the company raised INR 580 Cr from anchor investors. The round saw participation from 33 anchor investors, including HDFC Mutual Fund, Mirae Asset, Tata Mutual Fund, HSBC, Edelweiss, Bajaj Life Insurance, 360 ONE Equity, Nippon India, and Ashoka WhiteOak, among others.

On the financial front, Wakefit reported an operating revenue of INR 724 Cr in the first half (H1) of FY26, while posting a net profit of INR 35.6 Cr.