Wakefit Innovations Ltd., a Bengaluru-based home and furnishings brand, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹468.2 crore through an IPO. The company reported strong FY24 revenues and plans to expand its retail footprint across India.
Wakefit Innovations Ltd., founded in 2016 and now one of India’s fastest-growing home and furnishings brands, has submitted its draft red herring prospectus (DRHP) to the SEBI for an initial public offering aiming to raise ₹468.2 crore.
The Bengaluru-headquartered company recorded a ₹986.3 crore revenue from operations in FY2024 and ₹971 crore in the nine months ending December 31, 2024. Wakefit operates five advanced manufacturing plants—two each in Bengaluru and Hosur, and one in Sonipat—leveraging automation and robotics to streamline production.
IPO Structure and Use of Funds
- Fresh Issue: Up to ₹468.2 crore in equity shares
- Offer for Sale: 5.83 crore shares by existing shareholders
The capital raised will be used for:
| Activity | Allocation |
| 117 regular and 1 jumbo COCO stores | ₹82 crore |
| Equipment and machinery | ₹15.4 crore |
| Lease/license for stores | ₹145 crore |
| Marketing & advertising | ₹108.4 crore |
| General corporate purposes | Balance of funds |
IBRMs managing the issue include Axis Capital Limited, IIFL Capital Services Ltd., and Nomura Financial Advisory & Securities (India) Pvt Ltd.
As Wakefit prepares for its market debut, the IPO will fuel its ambitious goal of expanding its retail network and solidifying its presence in India’s organized home furnishings market.