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HomeIPOWakefit Innovations

About Wakefit Innovations

The company, Wakefit Innovations Limited, was incorporated in 2016; it is an Indian D2C home and sleep solutions company, best known for its affordable and high-quality mattresses and furniture.The company initially gained popularity with its memory foam mattresses sold directly to customers online, bypassing middlemen, and offering competitive prices. Over time, Wakefit expanded its portfolio into pillows, beds, sofas, study tables, wardrobes, and other furniture items, catering to the changing needs of the modern Indian home.The company operates primarily through its digital channels, supported by strong logistics and customer service, which enables it to reach customers across urban and semi-urban areas in India.Product Portfolio:MattressesFurnitureFurnishingsAs of December 31, 2024, the company had 2,085 permanent employees, out of which 1,504 were employees (excluding skilled and unskilled labours) and 581 were skilled and unskilled labours.

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National Stock Exchange of India

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Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
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Issue Size22.98 Cr
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National Stock Exchange of India

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17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
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29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Wakefit Innovations

Wakefit Innovations

Open Date

08 Dec 2025

Close Date

10 Dec 2025

listed

Min Investment

₹14820

Lot Size

76 Shares

Issue Size

₹1288.89 Cr

Price Range

₹185 - ₹195

Listing Date

Dec 15, 2025

IPO Doc

RHP PDF

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹3.5(+2.00%)GMP
1.79%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Wakefit Innovations IPO - Issue Objectives

₹30.84 crore will fund 117 COCO-regular stores, and ₹15.41 crore will fund equipment and machinery. The company will use ₹161.46 crore for lease, rent and license fee payments for its existing stores The company will allocate ₹108.40 crore for marketing and advertising to boost brand awareness. Up to 25% of the IPO’s gross proceeds may be used for general corporate purposes.

Capital expenditure

12.2%

Expenditure towards lease payment

42.8%

Marketing and advertising expenses

28.7%

General corporate purposes

16.3%

1

Capital expenditure

₹30.84 crore will fund 117 COCO-regular stores, and ₹15.41 crore will fund equipment and machinery.

12.20%
2

Expenditure towards lease payment

The company will use ₹161.46 crore for lease, rent and license fee payments for its existing stores

42.80%
3

Marketing and advertising expenses

The company will allocate ₹108.40 crore for marketing and advertising to boost brand awareness.

28.70%
4

General corporate purposes

Up to 25% of the IPO’s gross proceeds may be used for general corporate purposes.

16.30%

IPO Subscription Status

QIB
3.04x
NII
1.05x
Individual
3.17x
Total
2.52x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Wakefit Innovations

In Cr.

Key Performance Indicator30-Sep-25 (In Cr.)31-Mar-25 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)
Revenue741.301305.431017.33820.01
EBITDA103.1990.8365.85-85.75
Expenses
Profit After Tax35.57-35.00-15.05-145.68
Assets1220.341050.75928.30791.80
Net Worth557.34520.57543.61505.08
Reserves522.34500.27523.33486.99
Borrowing

Wakefit Innovations - Promoter(s)

Ankit Garg

Chaitanya Ramalingegowda

Pre Issue Share Holding

43.01%

Post Issue Share Holding

36.83%

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Largest D2C home & furnishing brand

The company is India’s largest D2C home and furnishing solutions provider by FY24 revenue. Its revenue has grown at a 24.87% CAGR in FY22–FY24, approximately 1.64× times higher than the organised industry average. The company’s own channels contribute significant revenue, forming 64.91% of revenue as of September 2025 and 56.97% in FY25, which enhances brand loyalty and drives repeat purchases.

02

Diverse product portfolio

It is the only Indian D2C player scaled across mattresses, furniture, furnishings & décor, with each category contributing over ₹100 crore in FY24. The brand is top three in the organised mattress market and the largest player in online mattress revenue among competitors. It launched 3,070 and 2,333 SKUs across all its categories in FY5 and FY24, respectively that includes innovative products such as Regul8 and Track8.

03

Vertically integrated business model

The company’s full-stack control, from CAD/CAM-led design to automated production with robotic systems, enables precision, faster turnaround, and minimal errors. Its five strategically located facilities across Karnataka, Tamil Nadu, and Haryana support large-scale capacity (0.64M mattresses, 0.33M furniture and 1.59M furnishing for 6M FY26), while cost-efficiency measures like in-house board lamination, EPEI-led waste reduction, roll-pack and flat-pack formats.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

High dependence on the mattress category

The company derives a majority of its revenue from mattresses, contributing 63.50% in FY23, 57.54% in FY24, 61.35% in FY25, and 60.65% in H1FY26 to revenue from operations. This concentration exposes the company to category-specific risks such as shifts in consumer preferences, increased competition and product-related complaints, which could materially impact demand and revenue stability.

02

Heavy reliance on proprietary channels for sales

The company generates a significant portion of revenue from its own channels (website and COCO stores), accounting for 57.50% in FY23, 58.30% in FY24, 56.97% in FY25 and 64.91% in H1FY26. Any disruption in online operations or retail store performance could adversely affect sales. The company has also closed 13 COCO stores due to low revenue or relocation decisions, indicating execution risks in physical expansion.

Contact Details

Wakefit Innovations

Umiya Emporium, 97-99, 2nd and 4th Floor, Adugodi, Tavarekere, Opp. Forum Mall, Hosur Road, Bengaluru, Karnataka, 560029

08067335544
investorscompliance@wakefit.co
http://www.wakefit.co/

Registrar Contact Details

MUFG Intime India Pvt Ltd

+91-22-4918 6270
wakefitinnovations.ipo@in.mpms.mufg.com
https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Wakefit Innovations IPO - FAQs

Wakefit Innovations IPO is a Mainboard IPO. The issue is priced at ₹185-195 per equity share. The minimum order quantity is 76 Shares. The IPO opens on 8 Dec, and closes on 10 Dec. MUFG Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre Apply2025-12-05
  • Bidding Starts2025-12-08
  • Bidding Ends2025-12-10
  • Allotment Finalisation2025-12-11
  • Release of Funds2025-12-12
  • Demat Transfer2025-12-12
  • Listing2025-12-15
04

Rapid expansion in network

The company delivers wide reach through its website, major marketplaces, and rapid offline expansion. COCO regular stores have grown 5x from 23 in FY23 to 125 by September 2025 across 62 cities. MBO presence has scaled quickly to 1,504 stores across 395 cities in under 3.5 years, significantly boosting nationwide accessibility and brand visibility.

05

Multi-faceted and cost-efficient marketing

The company’s marketing strategy blends community engagement, creative campaigns, and celebrity collaborations to strengthen brand recall while maintaining disciplined spending. Marketing and promotion expenses have remained efficient at 5.10% of revenue in H1 FY25, compared with 7.56% in FY25, 7.84% in FY24, and 11.80% in FY23, demonstrating improved ROI on brand investments alongside growing customer reach and engagement.

03

Raw material cost volatility

Raw material cost intensity remains high, forming 58.05% of revenue in FY23, 47.04% in FY24, 45.68% in FY25 and 46.72% in H1FY26. The company does not have long-term supply agreements and imports up to 38.14% of materials (H1FY26), increasing exposure to global pricing, forex fluctuations and import policy changes.

04

Threats from online marketplaces

Sales through online marketplaces still contribute 41.19% in FY23, 38.71% in FY24, 37.95% in FY25 and 29.33% in H1FY26. These platforms can alter visibility algorithms, increase commission charges, or prioritize their own private-label brands, impacting the company’s revenue and margins.

05

Reputation and brand image:

The company is highly reliant on the “Wakefit” brand and invests heavily in advertising, spending 11.80% of revenue in FY23, 7.84% in FY24, 7.56% in FY25 and 5.10% in H1FY26. Any negative publicity, quality concerns or counterfeit activity could impact sales momentum and brand trust.