The home-and-furnishings brand Wakefit is opening its IPO today, December 8. The public issue will remain open for subscription until December 10. Let’s look at the key details of the offer-
Wakefit IPO: Issue details
The Rs 1,289 crore Wakefit IPO is a mix of new shares and existing investors selling part of their stake. About Rs 377 crore will come through fresh shares issued by the company, while the remaining Rs 912 crore will be raised through an offer-for-sale by promoters and early backers.
Wakefit IPO: Price band and other details
The Wakefit IPO is priced between Rs 185-195 per share, and investors need to bid in lots of 76 shares. For someone in the retail category, this means the minimum investment works out to Rs 14,820 at the upper end of the price band.
For bigger investors, the requirements are much higher. Small NIIs must apply for at least 14 lots, which comes to 1,064 shares or Rs 2,07,480 at the upper price. Large NIIs need to go even bigger with a minimum of 68 lots, adding up to 5,168 shares or Rs 10,07,760.
Wakefit IPO GMP trend
The grey market premium or the unofficial market indicators suggest that Wakefit’s shares are commanding a premium of around Rs 36 in the grey market. If this holds, the estimated listing price works out to roughly Rs 231, which is about 18% above the upper price band.
However, the GMP is not an official indicator and often changes quickly based on demand, liquidity and overall market mood.
Wakefit IPO: How the company plans to use proceeds
The funds from the fresh issue are largely placed for expanding Wakefit’s store network and improving its operational setup. A significant portion is set aside for opening over 100 new outlets, leasing expenses for existing stores, and buying new equipment for manufacturing.
Wakefit IPO: Key players of the issue
Axis Capital is managing the IPO as the book-running lead manager. MUFG Intime is acting as the registrar for the issue, handling investor applications, allotment, and related administrative work.
