Wakefit IPO: Issue Oversubscribed 1.94X Till Now

SUMMARY

The issue received bidding for 7.06 Cr shares against a total offer of 3.64 Cr shares

Interest from QIBs surged during the third day of bidding, with their quota oversubscribing 2.25X

With the oversubscription, Wakefit’s IPO will close today subsequent to which its shares will get listed on the bourses on December 15 (Monday)

D2C mattress and furniture company Wakefit’s IPO picked up pace during the third day of bidding, with the issue oversubscribing 1.94X at 14:39 IST. The issue received bidding for 7.06 Cr shares against a total offer of 3.64 Cr shares.

Interest from Qualified Institutional Buyers (QIBs) surged during the third day of bidding. These investors oversubscribed their quota by 2.25X, placing bids for 4.46 Cr shares against 1.98 Cr shares reserved for them.

Interest from retail investors continued on the final day, with these investors oversubscribing their quota subscribing 2.73X. RIIs have already placed bids for 1.81 Cr against 66.1 Lakh shares reserved for them.

However, the quota reserved for non institutional investors (NIIs) continues to be under subscribed till now. These investors have placed bids for 79.51 Lakh shares from a total of 99.14 Lakh shares earmarked for them, translating to an 80% subscription of their quota. In this, investors with bid amount in the range of INR 2-10 Lakh have subscribed their quota till now while investors with bid amount exceeding INR 10 Lakh have placed bids for 70% of the shares reserved for them.

With the oversubscription, Wakefit’s IPO will close today subsequent to which its shares will get listed on the bourses on December 15 (Monday).

The mattress maker’s public float comprises a fresh issue of equity shares worth INR 377.2 Cr along with an offer for sale (OFS) component of 4.68 Cr shares. The company has set a price band of INR 185–195 per share, which implies a valuation of about INR 6,373 Cr (approximately $710 Mn) at the upper end of the range.

Ahead of opening the issue, Wakefit raised INR 580 Cr from a host of 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.

Doubling down on its omnichannel playbook, the company would be diverting a greater chunk of the fresh capital raised from the IPO to set up new stores. It plans to set up 117 new offline stores in the near future.

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.

On the financial front, the company reported a net profit of INR 35.6 Cr during the first half of FY26 and an operating revenue of INR 724 Cr. In FY25, Wakefit’s net loss magnified 2.3X YoY to INR 35 Cr, despite a 29% YoY rise in operating revenue to INR 1,273.7 Cr.