Wakefit Innovations Limited IPO

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Wakefit Innovations Limited is one of India’s largest and fastest-growing D2C home and furnishing solutions companies, offering mattresses, furniture, and furnishings through an integrated omnichannel strategy. As of March 31, 2024, the company crossed ₹10,000 million in total income within just nine years of operations—making it the fastest homegrown organized player to achieve this milestone (Source: Redseer Report).

Its revenue from operations has grown at a CAGR of 24.87% between FY 2022 and FY 2024, significantly outperforming organised peers.

Product Portfolio

A. Mattresses: A wide range including Memory foam, latex, and HR foam, Dual comfort, grid, spring, plus, rollup, and foldable varieties and Advanced sleep-tech features like temperature regulation and sleep-tracking.

B. Furniture: Offerings include Engineered wood, natural wood, and metal beds, Sofas, recliners, wardrobes, Dining sets, office chairs, gaming chairs, tables, shelves, kids’ furniture

C. Furnishings & Home Décor: Includes Pillows, cushions, rugs, carpets, towels, Curtains, mats, bean bags, protectors and Kitchenware, dinnerware, décor items, lights, mirrors, ladders

Wakefit is among the top three organised mattress brands by FY 2024 revenue and ranks among the highest-rated D2C players online, with an average rating of 4.4/5 for mattresses, 4.2/5 for furniture, and 4.2/5 for furnishings as of November 2025.

Omnichannel Presence

Wakefit sells through a strong omnichannel model comprising:

1. Own Channels

a) Wakefit Website
b) COCO (Company-Owned, Company-Operated) Stores: expanded from 23 stores (March 2023) to 125 stores (September 2025) and Located across 62 cities in 19 states and 2 UTs

2. External Channels

a) Major online marketplaces (e.g., Pepperfry)
b) Quick-commerce platforms, 1,504+ Multi-Brand Outlets (MBOs) across 395 cities, scaled in less than 3.5 years

Wakefit reaches customers across 700+ districts in 28 states and 6 UTs.

Objects of the Wakefit Innovations Limited IPO:

Company proposes to utilise the Net Proceeds towards the following objects: 1. Capital expenditure for setting up of 117 new COCO – Regular Stores (₹30.8 cr) 2. Expenditure for lease, sub-lease rent and license fee payments for existing COCO (₹161.5 cr) 3. Capital expenditure for purchase of new equipment and machinery (₹15.4 cr) 4. Marketing and advertisement expenses towards enhancing the awareness the brand (₹108.4 cr) 5. General corporate purposes
DRHP of Wakefit Innovations Limited IPO
RHP of Wakefit Innovations Limited IPO

Wakefit Innovations Limited IPO Details:

Open Date: Dec 08 2025
Close Date: Dec 10 2025
Total Shares: 6,60,96,866
Face Value: ₹ 1 Per Equity Share
Issue Type: Book Building
Issue Size: 1288.89 Cr.
Lot Size: 76 Shares
Issue Price: ₹ 185 - 195 Per Equity Share
Listing At: NSE,BSE
Listing Date: Dec 15 2025

Promoters And Management:

1. Ankit Garg – Promoter, Chairperson, CEO & Executive Director, an IIT Roorkee chemical engineering graduate with over 14 years of experience, Ankit previously worked with Bayer Materials Science and J.B. Polymers. He has received prestigious honours such as Forbes 30 Under 30 (2019), ET 40 Under 40 (2024) and BW Disrupt Young Entrepreneur Awards. He drives the company’s overall strategic vision, product innovation, and long-term growth initiatives. 2. Chaitanya Ramalingegowda – Promoter & Executive Director, a computer science engineer and ISB Hyderabad alumnus, Chaitanya brings 19+ years of expertise across consulting and technology roles. He has worked with IBM, Caritor, Cognizant, Deloitte, and served as Director at Zinnov. A BW Disrupt 40 Under 40 (2020) awardee, he leads brand-building, operational strategy, and organizational development within the company. 3. Sakshi Vijay Chopra – Non-Executive Nominee Director, a commerce graduate with an MBA from the Asian Institute of Management, Sakshi has over 14 years of experience in private equity. As Managing Director at Peak XV Partners Advisors India LLP, she contributes deep expertise in investments, governance, and long-term value creation for the company.

Financials of Wakefit Innovations Limited IPO:

Particulars 6M FY2025-26 FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 724.00 1273.60 986.30 812.60
EBITDA (Cr) 103.10 90.80 65.80 -85.70
EBITDA Margins 14.25% 7.13% 6.68% -10.55%
PAT (Cr) 35.5 -35 -15 -145.6
PAT Margins 4.91% -2.75% -1.53% -17.93%
ROCE 6.04% -0.68% 0.27% -20.50%
D/E Ratio 0.5 0.53 0.35 0.28
OPerating Cash Flow 78.7 76.6 80.5 -20.4

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Wakefit Innovations Limited 1273.60 7.13% -2.75% -0.68% 0.53 6373.15 In loss
Sheela Foam Limited 3439 7% 2.82% 3.52% 0.41 6574 107
NOTE:Forward P/E 89.76 is According to FY 2026 PAT

Lead Manager of Wakefit Innovations Limited IPO:

  1. Axial Capital Private Limited
  2. IIFL Securities Ltd
  3. Nomura Financial Advisory And Securities (India) Private Limited

Registrar of Wakefit Innovations Limited IPO:

  1. MUFG Intime India Private Limited

Discussion on Wakefit Innovations Limited IPO:

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