Mumbai: Wakefit Innovations, the company known for manufacturing mattresses, pillows, bedsheets, pillow covers, and home furniture, is set to launch its Initial Public Offering (IPO) on 8th December 2025. Through this IPO, the company aims to raise approximately ₹1,400 crore.
IPO Details
The subscription for the Wakefit IPO will open on 8th December and remain open until 10th December. The shares are expected to be listed on the stock exchanges by 15th December. The IPO will include an Offer for Sale (OFS), under which existing shareholders—including founders Ankit Garg and Chaitanya Ramalingegowda, as well as investors Peak XV Partners and Verlinvest—will sell 4.67 crore shares. Earlier, Wakefit had proposed raising ₹468 crore by issuing new shares, as per the draft Red Herring Prospectus filed on 27th June.
Use of Proceeds
Wakefit plans to utilize the IPO proceeds for several strategic initiatives:
- Opening 117 new retail outlets (₹31 crore)
- Lease payments for store expansion (₹161 crore)
- Purchase of new equipment and machinery (₹15 crore)
- Marketing and advertising efforts (₹108 crore)
The company entered offline retail in 2022 and had 125 stores operational by September 2025.
Financial Performance
For the six-month period ending 30th September 2025, Wakefit reported a revenue of ₹724 crore and a net profit of ₹35.5 crore. In the fiscal year 2025, the company had recorded a revenue of ₹1,274 crore but incurred a loss of ₹35 crore.
About the Company
Founded in 2016 with support from Peak XV, Wakefit initially focused on bedroom products such as mattresses, pillows, and bed frames. Over time, it expanded its product portfolio to include sofas, dining sets, wardrobes, study tables, bookshelves, and other home furniture. For the six months ending 30th September 2025, approximately 65% of the company’s operating revenue came from its own channels, while the rest came from marketplaces and multi-brand outlets.
Competitors
Wakefit faces competition from established brands like Sheela Foam Ltd (Sleepwell, Kurl-On) and newer players like The Sleep Company (backed by Premji Invest) and SleepyCat (backed by Saama Capital).
Grey Market Performance
Although the IPO dates have been announced, the price band and lot size are yet to be disclosed. Consequently, there is currently no activity in the grey market, and the Grey Market Premium (GMP) is being shown as zero. Market activity is expected to pick up once the price band is announced.
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