Wakefit Innovations IPO Listing: Mattress-Maker Sees A Drowsy Start On D-Street, Shares List Flat At Issue Price

Wakefit Innovations IPO Listing: Wakefit Innovations saw a drowsy debut on the D-Street on December 15, with its shares listing flat near the issue price. On the NSE, the stock opened at Rs 195 apiece, same as the upper end of the issue price, and on the BSE, it started trading at Rs 194.10 per share, down by Rs 0.90, or 0.46 per cent.

The home and sleep solutions company offered its shares with a price band of Rs 185 to Rs 195 per share. It raised Rs 1,288.89 crore through the IPO, which was a combination of 19.34 million fresh equity shares worth Rs 377.18 crore and 46.75 million offer-for-sale component aggregating to Rs 911.71 crore. The Wakefit Innovations IPO was available for bidding from December 8 to December 10.

Ahead of the listing, Wakefit innovations' shares traded at a grey market premium (GMP) of Rs 4 per share in the unlisted market, indicating a listing gain of 2.05 per cent, according to websites that track such trades.

Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities were the book running lead managers, and MUFG Intime was the registrar to the issue.

Wakefit Innovations operates in the home decor and furnishings segment and manufactures and sells products such as mattresses, furniture and furnishings. The company follows an omni-channel model, with sales through both online and offline channels. It operates as a full-stack player, handling conceptualisation, design, manufacturing and distribution in-house, and caters to mass, masstige and premium segments, according to its red herring prospectus (RHP). The company generates revenue mainly from the sale of products across its omni-channel network.

Wakefit Innovations IPO Objectives

Wakefit Innovations plans to use the net proceeds from the IPO for multiple purposes. The company will spend Rs 30.84 crore on capital expenditure for setting up 117 new COCO regular stores. It will also allocate Rs 161.47 crore towards lease, sub-lease rent and licence fee payments for its existing COCO regular stores. In addition, it will allocate Rs 15.41 crore for capital expenditure on the purchase of new equipment and machinery. The company has also allocated Rs 108.40 crore for marketing and advertising expenses to enhance brand awareness and visibility, while Rs 33.07 crore will be used for general corporate purposes.

Wakefit Innovations IPO Subscription Details

Wakefit Innovations IPO garnered an overall subscription of 2.52 times, with investors bidding for 91.67 million equity shares against 36.35 million shares on offer.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 3.04 times, as bids were received for 60.24 million shares against an allocation of 19.83 million shares. Non-institutional investors (NIIs) subscribed their segment 1.05 times, placing bids for 10.45 million shares against 9.91 million shares reserved for them.

Retail investors showed strong interest in the issue, subscribing their quota 3.17 times, with bids for 10.97 million shares against 6.61 million shares reserved for them.

Wakefit Share Price

Half an hour after listing, Wakefit share price slumped up to the day's low at Rs 177 per share on the NSE, down 9.23 per cent from the listing and issue price. On the BSE, Wakefit share price tumbled as much as 8.68 per cent to the day's low at Rs 177.25 apiece.

At the opening price, Wakefit’s market cap was around Rs 6,400 crore.

Wakefit Innovations IPO Anchor Investors List

Ahead of the opening of the subscription window, Wakefit Innovations raised Rs 580 crore from institutional investors in the anchor round on December 8. The mattress maker allocated 29.74 million equity shares at Rs 195 per share, which is also the upper end of the IPO price band.

Of the total anchor allocation, nine domestic mutual fund houses invested through 21 schemes. These mutual funds were allotted 16.15 million shares, representing about 54.30 per cent of the total shares allocated to anchor investors.

Among the marquee mutual fund investors were HDFC Childrens Fund, which acquired 7.8 per cent of the total anchor allocation, investing about Rs 45.47 crore, followed by Mirae Asset Midcap Fund, which bought 7.2 per cent, investing around Rs 42 crore. Tata ELSS Fund and Nippon India Consumption Fund were also among the big investors, investing Rs 30 crore and Rs 25 crore, respectively.

Wakefit Innovations: Key Financials

Wakefit Innovations reported a total income of Rs 741.30 crore for the quarter ended September 30, 2025. Its profit after tax (PAT) stood at Rs 35.57 crore.

For the full fiscal year FY25, the company’s total income rose over 28 per cent to Rs 1,305.43 crore from Rs 1,017.33 crore in the previous fiscal. Wakefit turned profitable in FY25, posting a net profit of Rs 35.57 crore, as against a net loss of Rs 35 crore in FY24.

As of September 30, 2025, the company had a net worth of Rs 557.34 crore.