Wakefit Raises Rs 580 Crore From Anchor Investors
- The home & sleep solutions brand allotted 2.97 crore shares at Rs 195 each to 33 anchor investors ahead of its Dec 8 IPO, with domestic MFs taking over half the anchor book.
- The IPO includes a Rs 377.2 crore fresh issue and 4.68 crore-share OFS, valuing Wakefit at around Rs 6,400 crore; major sellers include Peak XV, Verlinvest, and Paramark KB Fund.
- IPO proceeds will go toward store expansion, marketing, and equipment; the company posted Rs 724 crore revenue and Rs 35.6 crore profit in H1 FY26 after FY25’s 30% revenue growth.
Wakefit, the home and sleep solutions brand, has raised Rs 580 crore from 33 anchor investors at the upper price band of Rs 195 per share, as the company gears up for its initial public offer opening on December 8.
According to the company's stock exchange filing, it allotted 29,743,590 equity shares to anchor investors at Rs 195 apiece to raise the stated amount. Of the total anchor portion, 1.61 crore shares (54.3%) were allotted to nine domestic mutual funds across 21 schemes, raising Rs 315 crore.
Key anchor investors include HDFC MF, Axis MF, Mahindra MF, Edelweiss MF and Tata MF. Others in the round included Bajaj Life Insurance, 360 ONE, Nippon India, Ashoka WhiteOak, along with global investors such as Steadview Capital and Amundi Funds.
The IPO is led by Axis Capital, IIFL Capital, and Nomura as the book-running lead managers, and MUFG Intime as the registrar.
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According to its RHP, the company plans to raise Rs 377.2 crore through a fresh issue of shares along with an OFS of 4.68 crore equity shares, valuing the company around Rs 6,400 crore ($719 million).
As part of the OFS, Peak XV will encash close to Rs 397 crore at a net return of 10X on its investment. Verlinvest will realise close to Rs 199 crore while Paramark KB Fund will pull out close to Rs 50 crore at the upper end of the price band.
It aims to utilize the fresh IPO proceeds towards store-related lease payments, marketing, and advertising; establishment of new COCO stores; and purchase of equipment, while the balance would be used for general corporate purposes.
Financially, Wakefit reported operating revenue of Rs 724 crore and a net profit of Rs 35.57 crore for the first half of FY26. In FY25, the operating revenue grew by almost 30% to Rs 1,274 crore from Rs 986 crore in FY24, though it ended the year with a net loss of Rs 35 crore.
