Wakefit Sets IPO Price Band at ₹185-195; Peak XV Eyes Up to 10X Return
The home and sleep solutions brand, Wakefit Innovations Ltd., has officially announced the price band for its Initial Public Offering (IPO). The public issue promises significant returns for its early backers, notably venture capital firm Peak XV Partners (formerly Sequoia Capital India), which is set to clock a multi-fold return on its decade-long investment.
IPO Key Details
| Feature | Details |
| Price Band | ₹185 to ₹195 per equity share (Face Value: ₹1) |
| Total Issue Size | Approx. ₹1,288.89 Crore (at upper price band) |
| Issue Components | * Fresh Issue: ₹377.18 Crore (funds go to the company) |
| * Offer for Sale (OFS): 4.67 Crore shares (approx. ₹911.71 Cr) | |
| Valuation | Approx. ₹6,373 - ₹6,400 Crore (at upper price band) |
| IPO Open Date | Monday, December 8, 2025 |
| IPO Close Date | Wednesday, December 10, 2025 |
| Listing | BSE and NSE (Tentatively December 15, 2025) |
| Retail Lot Size | 76 shares (Minimum investment: ₹14,820 at upper band) |
Blockbuster Exit for Peak XV Partners
The IPO marks a major windfall for the company's early investors:
Peak XV Partners: The firm, which is the largest external shareholder with a pre-IPO stake of 22.47%, is set to be the biggest beneficiary. It will offload a portion of its shares (approximately 2.03 crore shares) in the OFS, which is expected to fetch around ₹397.3 crore at the upper price band. Analysis suggests this exit could translate into a staggering 8-10X return on its initial investment.
Other Selling Shareholders (OFS): The Offer for Sale component will see partial exits by promoters Ankit Garg and Chaitanya Ramalingegowda, along with other institutional investors including Redwood Trust (also set for a strong ~11X return), Verlinvest S.A. (expected to get around 2.3X returns), SAI Global India Fund I, and Paramark KB Fund I.
Purpose of the Fresh Issue
Wakefit plans to utilize the net proceeds from the ₹377.18 crore fresh issue for the following growth initiatives:
Retail Expansion: Setting up 117 new Company-Owned, Company-Operated (COCO) regular stores (₹30.84 Cr).
Store Lease Payments: Expenditure for lease/sub-lease rent for existing COCO stores (₹161.47 Cr).
Capital Expenditure: Purchasing new equipment and machinery (₹15.41 Cr).
Marketing & Branding: Enhancing brand awareness and visibility (₹108.40 Cr).
General Corporate Purposes.
Financial Snapshot
Wakefit, which was founded in 2016, is a D2C company that has expanded from sleep products (mattresses) into a broad home and furnishings brand.
| Particulars (₹ in Crore) | H1 FY26 (Six Months ended Sep 30, 2025) | FY25 | FY24 |
| Revenue from Operations | 724 | 1,273.69 | 986.35 |
| Profit / (Loss) After Tax | 35.57 | (35.00) | (15.05) |
The company has successfully turned profitable in the first half of the current fiscal year (H1 FY26), reporting a net profit of ₹35.57 crore.