• Wakefit’s IPO subscribed 2.52x overall, led by retail and QIB investors
• Company aims to raise over Rs 1,288 crore through fresh issue and OFS
• Listing scheduled for December 15 on BSE and NSE

Wakefit’s initial public offering closed with a modest 2.52 times subscription, driven mainly by retail investors and qualified institutional buyers. Retail investors subscribed 3.17 times their quota, while QIBs placed bids 3.04 times their portion. Non-Institutional Investors showed limited interest, subscribing 1.05 times.

The IPO, open from December 8 to 10, was priced between Rs 185 and Rs 195 per share, with a lot size of 76 shares requiring a minimum investment of Rs 14,175. Share allotment is expected on December 11, and the company will list on both the BSE and NSE on December 15.

According to its red herring prospectus, Wakefit plans to raise Rs 377.2 crore through a fresh issue and an additional Rs 911.7 crore via an offer for sale (OFS) of 4.68 crore shares. This pegs the company’s valuation at around Rs 6,400 crore ($719 million). Major investors will see sizable exits through the OFS-Peak XV is set to earn a 10x return and cash out nearly Rs 397 crore, while Verlinvest will take home about Rs 199 crore. Paramark KB Fund will exit with around Rs 50 crore.

Also Read: BYT Capital Unveils Rs 180 Crore Fund for Deep-Tech Startups

Before the IPO opened to the public, Wakefit allotted 2.97 crore shares to anchor investors at Rs 195 each, raising Rs 580 crore. The anchor list included major domestic mutual funds such as HDFC MF, Axis MF, Mahindra MF, Edelweiss MF, and Tata MF.

The company plans to use the fresh capital for store lease payments, marketing, new COCO stores, equipment purchases, and general corporate needs. Wakefit reported operating revenue of Rs 724 crore and a net profit of Rs 35.57 crore in the first half of FY26. In FY25, revenue grew nearly 30% to Rs 1,274 crore, though the company ended the year with a Rs 35 crore net loss.