Wakefit raises Rs 580 crore from key investors including HSBC and HDFC MF ahead of IPO

Wakefit Innovations has raised Rs 580 crore from key investors ahead of its IPO, according to a stock exchange filing on Friday. The allotment was made at Rs 195 per share, the top end of the price range, indicating strong institutional appetite for the country’s largest D2C home and furniture brand on a FY24 revenue basis.The company allotted 2.97 crore shares to investors, while domestic mutual funds took up more than half of the book. Of the total allotment, 16.15 million shares, or 54.3%, were picked up by nine Indian mutual funds across 21 schemes, indicating heavy participation from long-term domestic institutions.

The anchor list included a mix of global and domestic investors such as Ashoka WhiteOak, HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, Amundi Funds New Silk Road, HDFC Mutual Fund, Axis Mutual Fund, Mirae Asset, Nippon India Mutual Fund, Tata Mutual Fund, HSBC MF, Bandhan MF, Edelweiss MF and Mahindra Manulife MF.

Founded in 2016, Wakefit operates a full-stack, vertically integrated model spanning product design, engineering, manufacturing, distribution and customer experience.

The portfolio includes mattresses, furniture and home furnishings sold through the website, company-owned stores and leading e-commerce platforms.

The company has shown a steady increase in scale in recent years. It reported Rs 1,273 crore in revenue from operations in FY25. For the six months ended September 30, 2025, revenue stood at Rs 724 crore, while profit stood at Rs 35.5 crore.

Wakefit’s IPO opens on Monday, December 8 and closes on Wednesday, December 10, with the strong anchor book expected to provide a solid start to the issuance when bidding begins next week. The total IPO size of Rs 1,288 crore includes a fresh issue of shares worth Rs 377 crore and an OFS of 4.67 crore shares, which could fetch Rs 910 crore at the top end of the price. strap.

Promoters Ankit Garg and Chaitanya Ramalingegowda are participating in the OFS along with other shareholders such as Peak XV Partners, Redwood Trust, Verlinvest SA and others. Proceeds from the new issue will be used to support business expansion, while allowing OFS early backers to partially exit the business.