Wakefit Makes Muted Public Market Debut, Shares List Flat

Wakefit Makes Muted Debut On BSE At 194 Apiece

SUMMARY

Wakefit's shares listed at INR 194.10 on the BSE against the issue price of INR 195

The company’s IPO comprised a fresh issue of equity shares worth INR 377.2 Cr along with an offer for sale component of 4.68 Cr shares

The public issue closed with oversubscription of 2.5X. The public issue received bids for 9.16 Cr shares against 3.64 Cr shares reserved

Wakefit’s shares made a muted debut on the bourse today, listing at INR 194.10 on the BSE against the issue price of INR 195.

On the NSE, the shares of the D2C mattress and furniture company got listed flat at INR 195 apiece.

At 11:27 IST, the shares were trading at INR 198.2 apiece on the BSE, up 1.6% from the issue price and 2.1% from the listing price. At the time, the company’s market capitalisation stood at INR 6,484.3 Cr (about $716 Mn).

The company’s IPO comprised a fresh issue of equity shares worth INR 377.2 Cr along with an offer for sale component of 4.68 Cr shares. The price band for the IPO was INR 185-195 and the public issue closed with oversubscription of 2.5X.

Peak XV Partners, Verlinvest S.A, and South Korean VC firm Paramark were among the investors who sold shares via the OFS, along with the cofounders. While Peak XV minted 9.5X return on its investment, cofounders Ankit Garg and Chaitanya Ramalingegowda together raked in INR 237 Cr from their share sale.

The company raised INR 580 Cr from anchor investors like HDFC, Mirae Asset, Tata Mutual Fund, HSBC, Edelweiss, among others, ahead of the IPO.

Wakefit plans to deploy the major chunk of its 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, its net loss zoomed 2.3X YoY to INR 35 Cr, while operating revenue grew 29% YoY to INR 1,273.7 Cr.

Wakefit is the third new-age tech company to be listed on the exchanges this month. Last week, ecommerce major Meesho and contract manufacturing company Aequs got listed on the bourses.

At 18, the new-age tech IPO count in 2025 has surpassed 2024’s tally of 13 and more than tripled from five in 2023.