At the upper end of the price band, the IPO values the company at INR 6,373 Cr (about $710 Mn)

At INR 195 per share, the total size of the issue will be INR 1,289 Cr (about $143.6 Mn)

Wakefit has raised more than $148 Mn from investors such as Peak XV, Investcorp, Verlinvest and SIG, among others

D2C furniture and mattress company Wakefit has set the price band for its IPO, which is set to open on December 8, at INR 185 to INR 195 per share.

At the upper end of the price band, the IPO values the company at INR 6,373 Cr (about $710 Mn).

Anchor bidding for the issue will take place on December 5, while the issue will close on December 10. The shares are expected to list on the exchanges on December 15.

The public issue comprises a fresh issue of up to INR 377.2 Cr and an offer for sale (OFS) of up to 4.68 Cr equity shares. At INR 195 per share, the total size of the issue will be INR 1,289 Cr (about $143.6 Mn).

Wakefit undertook a private placement of 28.7 Lakh shares at INR 195 apiece, amounting to INR 56 Cr.

Promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors Peak XV Partners, Nitika Goel, Redwood Trust, SAI Global India Fund I, Paramark and Verlinvest, will offload shares via the OFS component of the IPO.

The company plans to use the proceeds from the fresh issue to set up 117 new stores, pay licence fee for its existing stores, purchase new equipment and machinery, and pay for marketing and advertising

Founded in 2016 by Garg and Ramalingegowda, Wakefit sells products such as mattresses, pillows, bed frames and mattress protectors with an aim to give a better sleeping experience to its customers, with an SKU of 3,070.

It operates via an omnichannel network by selling products online and through its retail stores. The company aims to have close to 220 stores by the end of FY28. It also has partnerships with ecommerce platforms such as Amazon and Flipkart to sell its products.

Wakefit has raised more than $148 Mn from investors such as Peak XV, Investcorp, Verlinvest and SIG, among others.

On the financial front, Wakefit’s operating revenue stood at INR 724 Cr in the first half of financial year 2025-26, while net profit was at INR 35.6 Cr.

In FY25, the company’s net loss widened 2.3X to INR 35 Cr from INR 15 Cr in the previous year. Revenue from operations rose 29% YoY to INR 1,273.7 Cr.