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Wakefit Innovations IPO Details
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Listing on exchange
About Wakefit Innovations IPO
The IPO of Wakefit Innovations is made up of a fresh issue and an offer for sale. The fresh issue aggregates up to ₹468.221 crores and the offer for sale amounts to 58,399,085 equity shares. The total issue size is pegged at TBA. It’s a 100% book-built issue. The price band is TBA. The IPO opens on TBA and closes on TBA.
The listing date is on TBA and the allotment date is TBA. The credit of shares to the Demat account will take place on TBA, while the initiation of refunds will take place on TBA.
Wakefit Innovations is the largest D2C home and furnishings company in India in terms of revenue in Fiscal 2024. As of March 31, 2024, with just over nine years of operations, the company is the fastest homegrown player in the home and furnishings market in India among organised peers to achieve a total income of more than ₹10,000 million.
Objectives of Wakefit Innovations IPO
The company proposes to utilise the IPO proceeds for:
- Capital expenditure to be incurred by the company for setting up of 117 new COCO – regular stores and one COCO – jumbo store
- Expenditure for lease, sub-lease rent and license fee payments for its existing COCO – regular stores
- Capital expenditure to be incurred by the company for purchase of new equipment and machinery
- Marketing and advertisement expenses towards enhancing the awareness and visibility of the company's brand
- General corporate purposes
Wakefit Innovations IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to ₹468.221 crores |
Offer for Sale | Up to 58,399,085 equity shares |
EPS in ₹ for FY 24 | (0.50) |
Wakefit Innovations IPO Lot Size
| Application | Lots | Shares | Amount in INR |
|---|---|---|---|
Individual Investors (Retail) (Min) | TBA | TBA | TBA |
Individual Investors (Retail) (Max) | TBA | TBA | TBA |
HNI (Min) | TBA | TBA | TBA |
Wakefit Innovations IPO Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not less than 75% of the net offer |
Non-institutional Bidders | Not more than 15% of the net offer |
Retail Individual Bidders | Not more than 10% of the net offer |
Industry Outlook
India’s home and furnishings market can be broadly classified into 3 key categories, namely, furniture, mattresses and furnishings & décor. India’s home and furnishings market is estimated to be ₹2.8 to 3.0 trillion (U.S.$ 34 to 36 billion) as of CY2024, projected to grow to reach ₹5.2 to 5.9 trillion (U.S.$ 63 to 71 billion) by CY2030.
The home and furnishings market is projected to grow at 11% to 13% CAGR from CY2024 to CY2030, fuelled by organised retail growth, rising online dominance, and premiumisation.
Company Information
Wakefit Innovations is the largest D2C home and furnishings company in India in terms of revenue in fiscal 2024. As of March 31, 2024, with just over nine years of operations, it’s the fastest homegrown player in the home and furnishings market in India among organised peers to achieve a total income of more than ₹10,000 million.
The company offers a wide range of products, including mattresses, furniture, and furnishings, through its omnichannel presence, ensuring a seamless customer experience across all touchpoints, both online and offline. It’s a full-stack vertically integrated company, enabling it to control every aspect of its operations, from conceptualising, designing and engineering its products to manufacturing, distributing and providing customer experience and engagement.
Strengths of Wakefit Innovations
- Largest and fastest growing D2C home and furnishing solutions destination
- Comprehensive home and furnishing solutions brand with a core focus on product innovation
- Full-stack vertically integrated operations with differentiated processes and technical capabilities
- Omnichannel sales presence and strategically located store network
- Multi-faceted marketing approach enhancing brand image
- Business model with a track record of delivering financial growth
Risks of Wakefit Innovations IPO
- Any impairment, dilution or damage to its brand in any manner may adversely affect business reputation, results of operations, financial condition and cash flows
- Any shifts in consumer preferences, any disruption in the supply chain, or heightened competition could adversely affect business, results of operations, financial condition and cash flows.
- Any disruption to website may adversely affect sales, business, results of operations, financial condition and cash flows
- History of losses in the past and the company may incur losses in the future too
- Inability to accurately manage inventory and forecast demand for products may have an adverse effect on business
- No long term agreements with suppliers for raw materials and an increase in the cost of or a shortfall in the availability of such raw materials could have an adverse effect on business
- Any disruption in transportation arrangements or increases in transportation costs may adversely affect business
- Technological disruptions to such online marketplaces, increase in the cost of their services or their heightened focus on promoting private label brands could adversely affect business
All Financial Information about Wakefit Innovations IPO (in ₹ crores)
Comparison with peers
| Company Name | Revenue from Operations (in ₹ crores) | EPS in ₹ | Return on Net Worth (in %) | NAV per Share (in ₹) |
|---|---|---|---|---|
Wakefit innovations | 986.353 | (0.50) | (2.77) | 17.92 |
Sheela Foam | 2982.310 | 17.66 | 6.17 | 288.47 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Managers
- IPO Registrar: MUFG Intime India
- Book Running Lead Managers: Axis Capital, IIFL Capital Services and Nomura Financial Advisory
Business Model
Wakefit Innovations offer a wide range of products, including mattresses, furniture, and furnishings, through its omnichannel presence, ensuring a seamless customer experience across all touchpoints, both online and offline.
Over the years, the company has evolved from a sleep solutions player into a one-stop destination offering home and furnishing solutions to meet customers’ evolving needs, with products tailored to cater to the mass, masstige, and premium segments. It’s the only D2C home and furnishings company in India that has scaled across all three product categories, namely, mattresses, furniture, and furnishing and décor.
Company Growth Trajectory
The revenue from operations of Wakefit Innovations grew from ₹632.587 crores in FY 22 to ₹986.353 crores in FY 24. Its EBITDA margin grew from (11.84%) in FY 22 to 6.68% in FY 24. A comprehensive home and furnishing solutions brand and omnichannel sales presence have helped the company grow over the years.
Market Position
Wakefit Innovations is amongst the top three companies in the organised mattress market in terms of revenue in Fiscal 2024. As per Forbes India Awards for D2C Disruptors in 2022, the company ranked first among D2C players with operations of over five years in the home and lifestyle category.
The company is also the top-rated player across the top two horizontal online marketplaces in India in the home and furnishings market across SKUs in the mattress, furniture and furnishings and décor categories among its organised peers which have garnered a significant number of user ratings as of May 22, 2025.
Wakefit Innovations Profit and Loss (in ₹ crores)
| Parameter | FY24 | FY23 | FY22 |
|---|---|---|---|
Total Income | 1017.334 | 820.009 | 637.026 |
Loss Before Tax | (15.053) | (145.683) | (106.520) |
Profit After Tax | (15.053) | (145.683) | (106.520) |
EBITDA | 65.849 | (85.752) | (74.922) |
EPS in ₹ | (0.50) | (5.62) | (4.46) |
Wakefit Innovations Balance Sheet (in ₹ crores)
| Parameter | FY24 | FY23 | FY22 |
|---|---|---|---|
Loss Before Tax | (15.053) | (145.683) | (106.520) |
Net Cash Generated from / (used in) Operating Activities | 80.593 | (20.463) | (147.594) |
Net Cash Generated from / (used in) Investing Activities | (147.239) | (201.181) | (50.213) |
Net Cash Generated from / (used in) Financing Activities | 8.748 | 274.603 | 190.209 |
Cash and Cash Equivalents at the End of the Year | 3.626 | 61.524 | 8.565 |
How to Check Allotment Status of Wakefit Innovations IPO?
1. Visit the Registrar’s Website
- Visit the website of MUFG Intime India
- Choose ‘Public Issues’ from Investor Services dropdown
- Choose the name of the company from ‘Select Company’ dropdown
- Enter any of these - PAN Number, Application Number, DP/Client ID, Account Number / IFSC
- Click on Submit to check the status
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) website has an IPO bid verification module. You can use it to check the allotment status of Wakefit innovations IPO. Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO bid verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
3. Check on the BSE Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Select 'Equity' from the dropdown menu
- Choose 'Wakefit innovations' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search’ to know allotment status
How to Apply for the Wakefit innovations IPO?
To apply for this IPO:
- Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details: Enter the number of lots and the price you wish to apply for.
- Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification: Your UPI app will receive a mandate notification to block funds.
- Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Wakefit Innovations IPO FAQs
Where can I read more about Wakefit Innovations business?
You can read more about Wakefit Innovations and its IPO from the company’s red herring prospectus (RHP) here.
What is the Wakefit Innovations IPO?
Wakefit Innovations IPO consists of a fresh issue aggregating up ₹468.221 crores and an offer for sale aggregating up to 58,399,085 equity shares.
When is the IPO of Wakefit Innovations coming?
The exact dates of the IPO are yet to be announced.
Who is the Chairperson of Wakefit Innovations?
Ankit Garg is the Chairperson, CEO and Executive Director of Wakefit Innovations.
What is the lot size of shares in the Wakefit Innovations IPO?
The lot size of shares in this IPO is yet to be announced.
From where can I read more about Wakefit Innovations and its IPO?
You can read more about Wakefit Innovations and its IPO from the company’s draft red herring prospectus here.