The Wakefit IPO has entered its Day 2 with the price band fixed at Rs 185–195 per share. The Rs 1,000 crore failed to excited the grey market and the subscription too has been relatively muted. .
Let’s take a look at the key details of the issue –
Wakefit IPO: Subscription status on Day 2 so far
By midday on Day 2, the Wakefit IPO had reached 0.31 times subscription so far. Retail investors portion subscribed 1.47 times their allocated quota. Interest from high-net-worth investors stayed muted at 0.17 times, while bids from institutional investors were yet to pick up, with the QIB portion at 0.00 times so far.
Wakefit IPO: Price band and GMP trend
The company has priced its shares between Rs 185-195.
The grey market premium (GMP) continues to hover at Rs 2. This is 1% higher over the IPO upper price band. However, GMP is not the actual listing price as it fluctuates based on market sentiment.
Wakefit IPO: Anchor round
Ahead of the IPO opening, Wakefit raised Rs 186 crore from marquee investors including Steadview Capital, WhiteOak Capital, InfoEdge, and Capital 2B (Temasek-backed).
Wakefit IPO: Issue structure and lot size
Wakefit’s IPO includes a combination of fresh equity worth Rs 377.18 crore and an offer-for-sale (OFS) of about 4.67 crore shares, taking the total issue size to nearly Rs 1,289 crore.
The IPO lot size has been fixed at 76 shares, with additional lots available in multiples of the same.
The company has placed 75% of the offering for qualified institutional buyers, 15% for non-institutional investors and 10% for retail participants.
Wakefit IPO: Promoter holding set to decline after the issue
A number of promoters and early investors including Ankit Garg, Chaitanya Ramalingegowda, Peak XV Partners, Verlinvest and others are offloading part of their stake through the OFS.
Post-listing, the promoters’ holding is expected to reduce from 43.7% to about 37%.
Wakefit IPO: Where the fresh capital will be used
Wakefit’s fundraising plan focuses heavily on scaling its offline and online footprint. A portion of the proceeds will go toward setting up 117 new stores, leasing and sub-leasing costs, and strengthening machinery and equipment.
The company has also placed over Rs 100 crore for marketing and brand-buildings.
Wakefit IPO: Listing timeline
The allotment of shares will take place on December 11, followed by refunds and demat credits on December 12.
Thereafter, Wakefit shares will debut on the NSE and BSE bseon Monday, December 15.
Wakefit IPO: What brokerages are saying
How are brokerages viewing the issue? In terms of valuation and business fundamentals, “the company has evolved into a digital-first home solutions brand with a rapidly expanding footprint across mattresses, furniture and allied product categories. Its brand recall, supported by integrated manufacturing and consistent product quality, has enabled meaningful consumer loyalty in the sleep and home improvement space. An omnichannel distribution model enhances accessibility and customer acquisition, while a widening portfolio continues to improve lifetime value. With operating leverage expected to strengthen through deeper retail presence and logistics efficiencies, the company remains positioned to scale revenues across both core and adjacent segments. The stock is valued at an EV/Sales multiple of 5.0 based on FY25 financials and IPO price of 198,” said Bajaj Broking in its IPO note.
