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2w ago

Wakefit Seeks ₹468 Crore in IPO to Fuel Retail Expansion

The IPO proceeds will expand Wakefit’s offline store network, upgrade its operations, boost marketing initiatives, support its upcoming NSE and BSE listings.

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Wakefit Innovations files DRHP with Sebi to launch IPO; check key details

Overview

  • Wakefit Innovations filed its draft red herring prospectus with SEBI on June 27 for a ₹468.22 crore fresh issue alongside an offer-for-sale of 5.8 crore shares.
  • The offer includes an optional pre-IPO placement of up to ₹93.64 crore that would proportionally reduce the fresh issue size if executed.
  • Proceeds are earmarked for opening 117 company-owned stores and one jumbo outlet, funding equipment upgrades, lease costs and marketing campaigns.
  • The Bengaluru-based D2C home and furnishings retailer reported revenue of ₹986.35 crore in FY24, narrowing its net loss to ₹15.05 crore from ₹145.68 crore a year earlier.
  • Axis Capital, IIFL Capital and Nomura have been appointed as book-running lead managers with MUFG Intime as registrar ahead of listings on the NSE and BSE.