Wakefit IPO Day 2: Issue sees tepid investor response with only 26% subscription so far—Here’s what to know

Wakefit IPO: The initial public offering (IPO) of Wakefit Innovations Ltd stepped into its second day of public bidding on Tuesday, December 9, with the issue subscribed 26 per cent so far, as per the provisional exchange data. The issue has received strong demand from retailers and has fully booked the allotted portion. The Rs 1,288.89 crore public offer is a mix of fresh issuance and offer for sale (OFS).

The basis of allotment for the IPO shares is expected to be finalised on December 11, 2025, while the stock is expected to list on BSE and NSE on December 15, 2025.

According to the company’s red-herring prospectus (RHP), Axis Capital Ltd is the book-running lead manager, while MUFG Intime India Ltd is the registrar of the issue.

Wakefit IPO subscription status

As of 12 pm, investors have bid for 96.05 lakh shares against the total shares on offer. The subscription includes bids primarily from institutional investors and retailers, who have bid 0.12 and 1.27 times against their allotted portion so far.

The qualified institutional buyer (QIB) category is yet to receive a bid for its reserved portion of shares.

In terms of shares, the NII and RII quotas have booked 12.33 lakh and 83.66 lakh shares against their reserved portion of shares.

The Wakefit IPO is a book-building issue of Rs 1,288.89 crore, comprising a fresh issue of 1.93 crore equity shares, amounting to Rs 377.18 crore, and an offer-for-sale (OFS) of 4.68 crore equity shares, amounting to Rs 911.71 crore.

Ankit Garg and Chaitanya Ramalingegowda are the promoters of the company who are offloading their stakes through the offer for sale.

The IPO has reserved 75 per cent, 15 per cent and 10 per cent of the net offer for the QIB, NII and retail investor categories, respectively.

The minimum amount of investment required by a retail investor is Rs 14,820, translating into a lot size of 76 shares (based on the upper end of the price band).

Wakefit has priced its public offer at Rs 185 to Rs 195 per equity share.

The public offer of Wakefit Innovations will be open for public subscription from December 8 to December 10, 2025.

The basis of allotment of the Wakefit IPO shares is expected to be finalised on December 11, 2025, tentatively, followed by the crediting of shares to the successful subscribers and initiation of refunds to the unsuccessful bidders.

The IPO stock is likely to list on both the stock exchanges (NSE and BSE) on December 15, 2025, tentatively.

Wakefit Innovations plans to utilise the net proceeds from its IPO primarily to support its retail expansion, strengthen operations, and enhance brand visibility.

A portion of the funds will be used for capital expenditure to set up 117 new COCO (Company-Owned Company-Operated) regular stores, while a significant amount is allocated for lease, sub-lease, rent and license fee payments for its existing COCO stores.

The company also intends to invest in new equipment and machinery to improve operational efficiency.

Additionally, a substantial share will go towards marketing and advertising initiatives to boost brand awareness. The remaining proceeds will be applied towards general corporate purposes.

Wakefit Innovations Limited, incorporated in 2016, is an Indian D2C (Direct-to-Consumer) home and sleep solutions company that gained popularity for its affordable range of mattresses, furniture, and home decor products.

Wakefit increased its product line by adding a variety of items, such as pillows, beds, sofas, study tables, wardrobes, and other furniture, all of which are targeted towards the needs of modern Indian homes that are constantly changing.

Financially, the company reported a revenue increase of 28 per cent, while the profit-after-tax (PAT) declined significantly by 133 per cent in FY24-25.