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Shares of Wakefit Solutions made a flat debut on the Indian stock exchanges on Monday, December 15, listing flat at the IPO’s upper price band of Rs. 195. The stock opened at Rs. 195 on the NSE and slightly lower at Rs. 194.10 on the BSE, offering no listing gains.
The debut was in line with grey-market expectations, as the GMP of around Rs. 7 had already indicated a muted opening.
Wakefit Solutions raised Rs. 1,288.89 crore through its initial public offering, comprising a fresh issue of 1.93 crore equity shares worth Rs. 377.18 crore and an offer for sale of 4.68 crore shares, totaling Rs. 911.71 crore.
The IPO was open for subscription between December 8 and December 10, with the price band fixed at Rs. 185-Rs. 195 per share.
The lot size was 76 shares, requiring a minimum retail investment of Rs. 14,820 at the upper end of the band. Ahead of the public issue, the company also raised Rs. 580 crore from anchor investors.
The IPO saw moderate investor participation, with the issue being subscribed 2.52 times overall. Retail investors subscribed 3.17 times.
Qualified Institutional Buyers (QIBs) subscribed 3.04 times, while the Non-Institutional Investor (NII) segment remained relatively subdued, with subscriptions of 1.05 times.
In total, bids were received for 9.16 crore shares, compared with 3.64 crore shares.
Following the flat listing, Wakefit shares saw limited upside during early trade. By 12:15 AM, the stock was trading at Rs. 196.80 on the NSE, up 0.86% from the issue price.
The company’s market capitalisation stood at around Rs. 6,486 crore.
Wakefit reported a net profit of Rs. 35.6 crore in the first half of FY26 on operating revenue of Rs. 724 crore.
In FY25, operating revenue grew 29% YoY to Rs. 1,273.7 crore, while the net loss widened to Rs. 35 crore.
The company plans to utilise the proceeds from the fresh issue primarily to open 117 new COCO-Regular offline stores across India.
Additional funds will be directed toward meeting lease and rental obligations, procurement of equipment and machinery, enhancing marketing and advertising initiatives, and general corporate purposes.
Wakefit, founded by Ankit Garg and Chaitanya Ramalingegowda, was established in 2016 and functions as a company that sells mattresses and furniture directly to consumers.
The company sells mattresses, pillows, bed frames, and mattress protectors through its online platform and a fast-growing offline retail network.
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