Wakefit Innovations Ltd., the direct-to-consumer (D2C) home-furnishing and mattress brand, opened its initial public offering (IPO) on 8 December 2025, targeting ₹1,288.9 crore. The price band is set at ₹185–195 per share, with ₹377.18 crore offered as a fresh issue and ₹911.71 crore through an offer-for-sale. The shares will list on both BSE and NSE, with allotment expected by 11 December and tentative listing on 15 December. Retail investors can apply for a minimum of 76 shares, which comes to about ₹14,820 at the upper price band.
Institutional investors have shown strong interest, with the anchor portion fully subscribed at the upper band, highlighting confidence in Wakefit’s growth story. The company recorded over 28% revenue growth in FY25 and turned profitable for the six months ending September 2025, marking a potential turnaround after several years of losses.
However, risks remain. Wakefit posted a net loss of about ₹35 crore in FY25. Its business continues to rely heavily on mattresses, making it sensitive to changing consumer preferences and raw material costs. High marketing and distribution expenses, coupled with intense competition, continue to put pressure on margins. Some brokerage firms have issued cautious ratings, urging investors to carefully weigh the IPO’s valuation against potential returns.
Grey-market activity suggests modest listing gains. While initial premiums were around ₹36 per share, these have cooled to roughly ₹16, implying expected listing gains of about 8%.
Wakefit’s IPO offers investors a chance to back a growing, brand-recognised D2C home-furnishing player. For long-term investors willing to take a calculated risk, there is potential. Yet, the combination of past losses, reliance on a narrow product range, and margin pressures calls for careful consideration before subscribing.
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