Tools & Calculators
Minimum Investment
08 Dec 25
10 Dec 25
₹14,060
76
₹185 to ₹195
NSE, BSE
₹1,288.89 Cr
15 Dec 25
08 Dec 25
10 Dec 25
11 Dec 25
12 Dec 25
12 Dec 25
15 Dec 25

Wakefit Innovations Limited is a leading Indian D2C home and sleep solutions company, known for its affordable mattresses, furniture, and home décor. It began with online sales of memory foam mattresses, removing middlemen to offer better prices. The brand later expanded into furniture and furnishings, serving modern Indian homes. Operating mainly through digital platforms, Wakefit ensures broad reach via efficient logistics and customer support. As of December 31, 2024, it employed 2,085 people, including 1,504 regular employees and 581 skilled and unskilled labourers.
Wakefit Innovations IPO is a book-built issue worth ₹1,288.89 crore, comprising a fresh issue of 1.93 crore shares amounting to ₹377.18 crore and an offer for sale of 4.68 crore shares valued at ₹911.71 crore. The IPO will open for subscription on December 8, 2025, and close on December 10, 2025, with allotment expected on December 11, 2025. The company is set to list on both the BSE and NSE, with a tentative listing date scheduled for December 15, 2025. The price band for the offer is fixed between ₹185 and ₹195 per share, and the minimum lot size is 76 shares. Retail investors need to invest at least ₹14,820 at the upper price band. For sNII applicants, the minimum bid is 14 lots (1,064 shares) amounting to ₹2,07,480, while bNII investors must bid for at least 68 lots (5,168 shares), totalling ₹10,07,760. Axis Capital Ltd. is the book-running lead manager for the issue, and MUFG Intime India Pvt. Ltd. is acting as the registrar.
| Category | Details |
| Issue Type | Book Built Issue IPO |
| Total Issue Size | ₹1,288.89 crore (Fresh Issue: ₹377.18 crore + OFS: ₹911.71 crore) |
| Fresh Issue | ₹377.18 crore (1,93,42,461 shares) |
| Offer for Sale (OFS) | ₹911.71 crore (4,67,54,405 shares) |
| IPO Dates | December 8, 2025 to December 10, 2025 |
| Price Bands | ₹185 – ₹195 per share |
| Lot Size | 76 shares |
| Face Value | ₹1 per share |
| Listing Exchange | BSE, NSE |
| Shareholding Pre-Issue | 30,74,86,214 shares |
| Shareholding Post-Issue | 32,68,28,675 shares |
| Event | Date |
| IPO Open Date | Mon, Dec 8, 2025 |
| IPO Close Date | Wed, Dec 10, 2025 |
| Tentative Allotment | Thu, Dec 11, 2025 |
| Initiation of Refunds | Fri, Dec 12, 2025 |
| Credit of Shares to Demat | Fri, Dec 12, 2025 |
| Tentative Listing Date | Mon, Dec 15, 2025 |
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 76 | ₹14,820 |
| Retail (Max) | 13 | 988 | ₹1,92,660 |
| S-HNI (Min) | 14 | 1,064 | ₹2,07,480 |
| S-HNI (Max) | 67 | 5,092 | ₹9,92,940 |
| B-HNI (Min) | 68 | 5,168 | ₹10,07,760 |
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
| KPI | Value |
| Earnings Per Share (EPS) | (0.50) |
| Price/Earnings (P/E) Ratio | TBD |
| Return on Net Worth (RoNW) | (2.77%) |
| Net Asset Value (NAV) | 17.92 |
| Return on Equity | -6.58% |
| Return on Capital Employed (ROCE) | -0.68% |
| EBITDA Margin | 7.13% |
| PAT Margin | -2.75% |
| Debt to Equity Ratio | 0.53 |
The Net Proceeds are intended to be utilised as per the details provided in the table below:
| Particulars | Amount (in ₹ million) |
| Capital expenditure to be incurred by the company for setting up of 117 new COCO – Regular Stores and one COCO- Jumbo Store | 308.4 |
| Expenditure for lease, sub-lease rent and license fee payments for our existing COCO – Regular Stores | 1614.7 |
| Capital expenditure to be incurred by our Company for purchase of new equipment and machinery | 154.08 |
| Marketing and advertisement expenses towards enhancing the awareness and visibility of our brand | 1084.04 |
| General corporate purposes* | [●] |
Note: *To be determined upon finalisation of the Offer Price and updated in the Prospectus prior to filing with the RoC
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,220.34 | 1,050.75 | 928.30 | 791.80 |
| Total Income | 741.30 | 1,305.43 | 1,017.33 | 820.01 |
| Profit After Tax (PAT) | 35.57 | -35.00 | -15.05 | -145.68 |
| Reserves and Surplus | 522.34 | 500.27 | 523.33 | 486.99 |
| Total Borrowing | — | — | 7.36 | — |

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Innovative Product Development and Design Excellence
Wakefit Innovations Limited employs a strategic product development approach, launching thousands of SKUs annually. By producing small batches initially, it gauges customer interest and mitigates inventory risks. Their creative, tech-driven design process—powered by global trend analysis and software tools—ensures each product is functional, aesthetic, cost-effective, and aligned with evolving market preferences.
Vertically Integrated Operations and Smart Manufacturing
Wakefit Innovations Limited’s full-stack operations span design, engineering, manufacturing, and customer experience. Advanced tools like CAD/CAM, cloud-based manufacturing systems, and linked machinery enable high efficiency and real-time design updates. This automation reduces errors, improves precision, and ensures seamless production. Their integrated model gives the company tighter control, efficiency, and a competitive edge.
Robust Supply Chain, Logistics, and Customer-Centric Systems
Wakefit Innovations Limited operates a multi-tiered supply chain with centralized and regional hubs for faster delivery. Innovations like roll-pack mattresses, reusable sofa covers, and flat-pack furniture enhance logistics efficiency. SAP-ERP integration, CRM automation, A/B testing, and the Wixy chatbot create superior customer experiences, streamlining support and fostering brand trust and satisfaction.
Expansive Omnichannel Presence and Store Network
Wakefit Innovations Limited has built a robust omnichannel ecosystem blending its website, COCO–Regular Stores, marketplaces, and MBOs. Strategic store placements based on data insights ensure reach and capital efficiency. With 1,107 MBOs and 98 COCO–Regular Stores across India, the company ensures product accessibility and a unified brand experience both online and offline.
Multi-Faceted Marketing and Brand Engagement Strategy
Wakefit Innovations Limited’s marketing efforts include community-centric campaigns, celebrity partnerships, cultural integration, and digital performance marketing. Initiatives like the Sleep Internship and Great Indian Sleep Score reinforce brand identity. Creative campaigns and influencer collaborations enhance visibility, while sustained customer engagement and high product ratings reflect strong retention and growing consumer trust.
Proven Financial Growth and Scalable Business Model
Wakefit Innovations Limited demonstrates consistent financial improvement by leveraging operational efficiency and cost optimisation. With increasing revenue, improved EBITDA margins, and a rising share of offline sales, the business showcases scalability. Strategic investments, efficient manufacturing, and disciplined marketing contribute to sustained growth, improved margins, and reduced losses over the past years.
Wakefit Innovations Limited emerged as India’s largest D2C home and furnishings brand by revenue in Fiscal 2024. Within just nine years of operation, the company achieved a total income exceeding ₹10,000 million, with ₹9,863.53 million from operations. Its operational revenue grew at a CAGR of 24.87% between Fiscal 2022 and 2024—approximately 1.64 times faster than that of its organised peers.
Omnichannel Presence and Product Categories
The company offers a comprehensive product range—including mattresses, furniture, and home furnishings—through an omnichannel strategy, integrating:
Each of Wakefit’s three product categories generated over ₹1,000 million in Fiscal 2024:
Operational Excellence
Wakefit follows a full-stack vertically integrated model, overseeing R&D, design, manufacturing, and distribution. It uses roll-packing and flat-pack technology to cut logistics costs and optimise storage and installation efficiency.
Customer-Centric Flywheel
With over half of revenue consistently from its own channels, the company:
Repeat customers make up 17–22% of new furniture and furnishings buyers.
Marketing and Community Initiatives
Marketing efforts such as the “Sleep Internship” and quirky campaigns like “Kumbhakaran” and “Andar Ke Bacche Ko Jagao” enhance brand engagement. Celebrity endorsements and social media strategies amplify reach.
Leadership and Sustainability
Led by Ankit Garg and Chaitanya Ramalingegowda, supported by investors like Peak XV Partners and Elevation Capital, the brand upholds ESG values through recycling, reusable packaging, and vocational training initiatives like the “Gurukul” programme.
The Indian home and furnishings industry is poised for significant growth, driven by rapid urbanisation, rising disposable incomes, evolving lifestyle preferences, and the expansion of e-commerce platforms.
Market Size and Growth
Growth Drivers
Mattress Segment
Furniture Segment
Home Décor and Furnishings
Peer Group Comparison
Strategic Retail Expansion and Website Growth
Wakefit Innovations Limited aims to expand its COCO–Regular and COCO–Jumbo Stores across India, complemented by initiatives to boost online sales. The strategy includes tailored store formats, regional hubs, and digital upgrades to improve accessibility, customer experience, and sales performance across all channels.
Data-Led Product Diversification and Category Expansion
Wakefit Innovations Limited plans to broaden its product range using a data-driven approach, expanding within home and furnishing categories. This includes launching new SKUs, introducing premium offerings, and leveraging consumer insights to support growth across mattresses, furniture, and potential entry into interior design services.
Strengthening Brand Awareness and Identity
Wakefit Innovations Limited will invest in marketing, brand-building, and community engagement through digital campaigns, influencer partnerships, and sub-brand development. Their aim is to increase brand recall, connect with diverse audiences, and launch targeted brands across different price points to tap into evolving consumer preferences.
Enhancing Customer Experience through Technology
Wakefit Innovations Limited will leverage technology to personalize customer interactions, improve website usability, and streamline order tracking. Initiatives include video demos, chatbot integration, A/B testing, and RFID-based inventory tracking to optimize logistics and enhance the digital and offline shopping journey.
Maximizing Customer Lifetime Value
Wakefit Innovations Limited seeks to increase customer lifetime value by cross-selling complementary products, encouraging repeat purchases, and fostering brand loyalty. Through engaging retail experiences, targeted communication, product upgrades, and trust-building initiatives like 100-day trials, the company aims to deepen customer relationships and wallet share.
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You can apply via HDFCSky, or other brokers using UPI-based ASBA (Application Supported by Blocked Amount).
Wakefit plans to raise ₹468.2 crore via a fresh issue plus an OFS of ~5.83 crore shares.
The IPO is being managed by Axis Capital, IIFL Capital Services, and Nomura.
Funds allocated include retail expansion, new equipment, leases, marketing, and general corporate purposes.
Wakefit intends to spend approximately ₹82 crore on establishing 117 new COCO Regular Stores and one Jumbo Store.
Yes, Wakefit may undertake a preIPO placement of up to ₹93.6 crore, reducing the fresh issue size if executed.