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Wakefit Innovations Ltd IPO

03rd December 20254 mins readby Anand Rathi
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Aequs Ltd. IPO

About Wakefit Innovations IPO

Wakefit Innovations is set to launch its IPO for public subscription on December 8, 2025, and will remain open until December 10, 2025.

The price band of the Wakefit IPO is set at ₹185.00 to ₹195.00 per equity share. However, the IPO allotment results will be public by December 11, 2025. Likewise, refunds of Wakefit IPO application will be initiated by December 12, 2025.

Wakefit Innovations will list on both the BSE and NSE exchanges on December 15, 2025.

This Wakefit IPO is a ₹1,288.89 crores book-building issue. It comprises 1.93 crore shares (raising ₹377.18 crores) as a fresh issue and ₹911.71 crores through the Offer-for-Sale (OFS) of 4.68 crore shares.

Business Overview of Wakefit Innovations

Started in 2016 as a direct-to-consumer mattress brand, Wakefit has gradually expanded its offerings to become a full-fledged home-furnishings company, including furniture and home décor essentials.

The company runs five manufacturing facilities across India (located in Karnataka, Tamil Nadu, and Haryana), giving it control over design, production, distribution, and retail.

Leveraging this strong operational base, Wakefit has built a diverse product portfolio, with mattresses making up around 62% of sales, furniture 27-30%, and home-furnishings and accessories 11-13%.

To reach customers effectively, the company follows a true omnichannel strategy, combining its e-commerce platform, company-owned stores (COCO), and third-party marketplaces, ensuring both wide reach and strong engagement.

Wakefit IPO Date, Price, and Other Details

The following are the upcoming IPO details of Wakefit Innovations.

ParticularsDetails
IPO SizeBook Build issue of ₹1,288.89 crores
Offer TypeFresh issue of ₹377.18 crores + Offer for Sale (OFS) of ₹911.71 crores.
Total Number of Equity Shares6,60,96,866 shares (estimated)
Price Band₹185 to ₹195 per share
Issue DatesOpens: December 8, 2025
Closes: December 10, 2025
Minimum Bid Lot1 lot of 76 shares
Allotment DateDecember 11, 2025
Listing DateDecember 15, 2025
Face Value₹1 per share
Use of Proceeds
(est amounts)
  • Capital expenditure in setting up 117 new COCO -- Regular Stores.
  • For lease, sub-lease, rent, and license fee payments of stores.
  • Purchase of new equipment and machinery.
  • Marketing and advertising expenses.
  • General corporate proceeds
Lead Managers (BRLMs)
  • Axis Capital Limited
  • IIFL Capital Services Limited
  • Nomura Financial Advisory and Securities (India) Private Limited.
RegistrarMUFG Intime India Private Limited (Formerly Link Intime India Private Limited)
Listing ExchangesNational Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE)

Wakefit IPO Reservation: Who Can Apply?

Here is the investor-wise reservation for the Wakefit IPO.

Investor Category(%) of Shares Offered
QIB Shares OfferedNot more than 75% of the Net Offer
Retail Shares OfferedNot less than 10% of the Net Offer
NII Shares OfferedNot less than 15% of the Offer

IPO Lot Size of Wakefit Technologies

For each category, there is a specific lot size and shares available within Wakefit IPO.

ApplicationLotsSharesAmount
Retail (Min)176₹14,820
Retail (Max)13988₹1,92,660
S-HNI (Min)141,064₹2,07,480
S-HNI (Max)675,092₹9,92,940
B-HNI (Min)685,168₹10,07,760

Wakefit IPO Objectives – How Will the Funds Be Used?

The management of Wakefit Innovations plans to use the IPO proceeds for the following purposes:

ObjectiveAmount (₹ in crores)
Capital expenditure in setting up 117 new COCO (Regular Stores).₹30.84 crores
For lease, sub-lease, rent, and license fee payments of stores.₹1,61.47 crores
Purchase of new equipment and machinery.₹15.41 crores
Marketing and advertising expenses₹1,08.40 crores
General corporate purposesTo be finalised (shall not exceed 25% of gross proceeds)

Promoter Shareholding of Wakefit Technologies IPO

The promoter shareholding of Wakefit IPO is shared between Ankit Garg and Chaitanya Ramalingegowda in the respective ratio.

PromoterShareholding (Pre-Issue)
Ankit Garg33.03%
Chaitanya Ramalingegowda9.98%
Total Promoter Group43.01%

Financial Performance (₹ in crores) of Wakefit IPO

Here's the table outlining the financial performance of Wakefit Technologies from FY 2023 to FY 2025, and as of September 30, 2025.

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets1,220.341,050.75928.30791.80
Total Income741.301,305.431,017.33820.01
Profit After Tax35.57-35.00-15.05-145.68
EBITDA103.1990.8365.85-85.75
NET Worth557.34520.57543.61505.08
Reserves and Surplus522.34500.27523.33486.99
Total Borrowing--7.36-

(Note: "-" refers to the losses incurred in the respective period, from FY 2023-2024 to FY 2024-2025.)

Key Performance Metrics of Wakefit Technologies

Based on the restated consolidated statements for FY 2024-25 and as of Sep 30, 2025, the following performance metrics of Wakefit Technologies can be considered.

KPIAs of Sep 30, 2025Values (as of FY 2024-25)
Return on Equity (ROE)6.6- 6.58
Net Asset Value (NAV)17.9016.96
Price/Earnings (P/E) Ratio-Not available
Earnings Per Share (EPS)1.14(1.15)
Return on Capital Employed (ROCE)6.05%(0.68)%
EBITDA Margin (%)14.25%7.13%
PAT Margin (%)4.91%(2.75%)
Debt to Equity Ratio0.500.53

Strengths And Risks of Wakefit IPO

Unlike any business, there are certain strengths and potential risks of Wakefit Innovations.

Here's what you should know before applying for Wakefit IPO.

Strengths

  • Vertically Integrated Manufacturing

    Wakefit controls the full value chain (from design to production to delivery) through five in-house manufacturing facilities. It enables control over quality, improves margins, and reduces supplier dependency.

  • Strong Omnichannel Presence

    The company sells through its website, company-owned stores (COCO), marketplaces, and multi-brand outlets, giving it wide national coverage and diversified demand sources.

  • Consistent Revenue Growth with Clear Profitability Trend

    Wakefit has shown strong growth momentum, with revenue rising to ₹1,305 crore in FY25 and ₹724 crore in H1 FY26, where it also turned profitable with a ₹35.5 crore PAT. The business is transitioning from scale-first to profitable growth, supported by improving operating efficiencies.

  • Low Debt & Healthy Balance Sheet

    Wakefit carries only ~₹7.36 crore of total debt against a net worth of over ₹540 crore. It shows company's conservative leverage, low interest burden, and strong financial stability to survive in the future.

  • Improving Operating Metrics

    EBITDA improved from ₹65.8 crore (FY24) to ₹90.8 crore (FY25), indicating stronger unit economics and better operational efficiency as volumes scale.

  • Diversified Home Solutions Portfolio

    Beyond mattresses, Wakefit has expanded into furniture, furnishings, and home products — reducing reliance on a single category and tapping into a fast-growing home lifestyle market.

  • Strong Institutional Backing

    The company is supported by reputed investors, giving it financial strength, corporate governance maturity, and runway for offline expansion and product diversification.

Risks

  • High Dependence on Mattresses

    Over 60% of revenue comes from the mattress category. Any slowdown or increased competition in this segment can materially impact growth.

  • Brand & Reputation Sensitivity

    Wakefit's success depends on customer trust and reviews. Any quality issues or negative publicity can directly affect upcoming demand and repeated purchases.

  • Discretionary Demand Risk

    Furniture and home products are non-essential purchases. Thus, any economic slowdowns or reduced consumer spending can impact sales.

  • Execution Risks in Offline Expansion

    Aggressive COCO store expansion brings higher operating costs. If the store performans badly or mismanagement can affect the company's margins.

  • Raw Material & Supply Chain Volatility

    With time, foam, textiles, and wood prices could fluctuate. As a result, cost inflation or supply disruptions can squeeze margins.

  • Channel Concentration Risk

    The company has significant dependence on its own website and COCO stores. Any disruption (tech issues, operational delays, logistics problems) can dent sales.

How To Check the Allotment Status of Aequs IPO?

Here's how you can check your IPO allotment status for Wakefit Innovations.

  1. Visit the allotment portal : https://linkintime.co.in/Initial_Offer/public-issues.html
  2. Select "Wakefit Innovations" from the company dropdown.
  3. Enter any of these details - PAN, Application Number, DP/Client ID, or Account Number/IFSC.
  4. Click on the "Submit" button to view your allotment status.

Registrar Of Aequs IPO

The registrar of the Wakefit IPO is MUFG Intime India Pvt.Ltd.

Phone: +91-22-4918 6270

Email: wakefitinnovations.ipo@in.mpms.mufg.com

Lead Manager Of Aequs Limited IPO

The lead managers handling the IPO process of Aequs Ltd are;

  • Axis Capital Limited
  • IIFL Capital Services Ltd.
  • Nomura Financial Advisory and Securities (India) Private Limited.

Disclaimer

All IPO details, including issue size, price band, and timelines, are sourced from the company's Red Herring Prospectus (RHP) and publicly available data at the time of writing. This blog is meant only for awareness and educational purposes - it's not investment advice. Please go through the RHP carefully available on the SEBI website. Henceforth, investors are requested to do their own research and due diligence before investing in any IPO. The author and platform do not guarantee the accuracy or completeness of the information and shall not be held responsible for any financial losses arising from investment decisions based on this content.

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