Wakefit Innovations IPO is a book-built issue worth ₹1,288.89 crore. The issue is a combination of fresh issue of 1.93 crore shares aggregating to ₹377.18 crores and offer for sale of 4.68 crore shares aggregating to ₹911.71 crores. The IPO will open for subscription on December 8, 2025, and close on December 10, 2025.
The basis of allotment is expected to be finalised on December 11, 2025, with tentative listing scheduled on BSE and NSE for December 15, 2025. The price band for the Astron Multigrain IPO has been fixed at ₹185 to ₹195 per share.
Investors can bid for Wakefit Innovations IPO with a minimum of 1 lot of 76 shares. For retail investors, the minimum investment required is ₹14,820. For small high-net-worth investors (sHNI), the lot size stands at 14 lots, equal to 1,064 shares, amounting to ₹2,07,480.
Axis Capital Ltd. is the book running lead manager, and MUFG Intime India Pvt Ltd. is the registrar of the issue. Detailed information is available in the Astron Multigrain IPO RHP.
Wakefit Innovations IPO Objectives
Wakefit Innovations will use the funds raised from the public issue for the following:
- Capital expenditure to be incurred by the Company for setting up 117 new COCO – Regular Stores and one COCO – Jumbo Store.
- Expenditure for lease, sublease rent and license fee payments for the existing COCO – Regular Stores
- Capital expenditure to be incurred by the Company for the purchase of new equipment and machinery
- Marketing and advertising expenses toward enhancing the awareness and visibility of the brand
- General corporate purposes
About Wakefit Innovations Limited
Incorporated in 2016, Wakefit Innovations Limited is an Indian D2C (Direct-to-Consumer) home and sleep solutions company, renowned for its high-quality yet affordable range of mattresses, furniture, and home décor products.
The company initially gained recognition for its memory foam mattresses, which were sold directly to consumers online. By eliminating intermediaries, Wakefit was able to offer competitive pricing. Over time, the company expanded its product portfolio to include pillows, beds, sofas, study tables, wardrobes, and other furniture items, catering to the evolving needs of modern Indian households.
Wakefit primarily operates through its digital channels, backed by robust logistics and customer service capabilities, allowing it to reach customers across urban and semi-urban areas throughout India. The company’s product portfolio includes Mattresses, Furniture and Furnishings
As of December 31, 2024, Wakefit employed a total of 2,085 people, including 1,504 employees (excluding skilled and unskilled labour) and 581 skilled and unskilled labourers.
Industry Outlook
- India’s home and furnishings market is estimated at ₹2.8–3.0 trillion (US$34–36 billion) in CY2024 and is projected to nearly double to ₹5.2–5.9 trillion (US$63–71 billion) by CY2030, driven by rising consumer demand.
- The market is expected to grow at a robust 11–13% CAGR from CY2024 to CY2030, supported by organized retail expansion, increasing online penetration, and the trend of premiumization.
- Growth is being propelled by the expanding middle-income segment, which increased from 144 million households (46%) in CY2019 to 174 million households (51%) in CY2024, fueled by urbanization and higher formal employment.
- As India’s retail market matures, discretionary spending—including home and furnishings—is increasing, accounting for 54% of overall retail in CY2024 (up from 51% in CY2019) and expected to reach 58% by CY2030, growing at 9–11% CAGR and outpacing overall retail growth.
How To Apply for the Wakefit Innovations IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Wakefit Innovations IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Wakefit Innovations IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Wakefit Innovations IPO
Umiya Emporium, 97-99, 2 nd and 4th Floor, Adugodi, Tavarekere, Opp. Forum Mall, Hosur Road, Bengaluru 560 029, Karnataka, India
Phone: 080 67335544
E-mail: Investorscompliance@wakefit.co
Wakefit Innovations IPO Reservation
| Investor Category | Shares Offered |
| QIB (Qualified Institutional Buyers) | Not less than 75% of the Net Offer |
| Retail Investors | Not more than 10% of the Net Offer |
| NII (Non-Institutional Investors) | Not more than 15% of the Net Offer |
Wakefit Innovations IPO Promoter Holding
Ankit Garg and Chaitanya Ramalingegowda are the promoters of the company.
| Share Holding Pre-Issue | 43.01% |
| Share Holding Post Issue | 36.83% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Wakefit Innovations IPO
| KPI | Value |
| RoNW (%) | -6.72 |
| PAT Margin (%) | -2.75 |
| EBITDA Margin (%) | 7.13 |
Wakefit Innovations IPO Registrar and Lead Managers
Wakefit Innovations IPO Lead Managers
- Axis Capital Limited
- IIFL Capital Services Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Registrar for Wakefit Innovations IPO
MUFG Intime India Private Limited
- Contact Number: +91 22 4037 4037
- Email Address: wakefitinnovations.ipo@in.mpms.mufg.com
Financial Performance of Wakefit Innovations Limited
| Particulars | Period Ended on Sep 30, 2025 | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2024 |
| Revenue from Operations (in ₹ million) | 7,240.03 | 12,736.91 | 9,863.53 | 8,126.20 |
| EBITDA (in ₹ million) | 1,031.94 | 908.30 | 658.49 | (857.52) |
| EBITDA Margin (%) | 14.25 | 7.13 | 6.68 | -10.55 |
| Profit/loss After Tax (in ₹ million) | 355.74 | (350.04) | (150.53) | (1,456.83) |
| PAT Margin (%) | 4.91 | -2.75 | -1.53 | -17.93 |
| Net Worth (in ₹ million) | 5,573.36 | 5,205.70 | 5,436.06 | 5,050.79 |
Strengths and Opportunities of Wakefit Innovations Limited
- Largest and fastest-growing D2C brand in India’s home and furnishing solutions space.
- Comprehensive product portfolio driven by continuous innovation and customer-centric design.
- Vertically integrated, full-stack operations ensure quality control, cost efficiency, and faster delivery.
- Omnichannel presence with strategically located stores supporting strong offline–online synergy.
- Robust, multi-layered marketing approach that strengthens brand visibility and customer engagement.
- Proven business model with consistent financial growth across key operating metrics.
- Expand COCO (Company-Owned Company-Operated) stores and boost website sales to increase reach and improve customer experience.
- Data-driven product expansion into complementary categories to evolve into a complete home and furnishing solutions brand.
Risks and Threats of Wakefit Innovations Limited
- The company faces significant risk from any impairment or dilution of the “Wakefit” brand, which could weaken its reputation and financial performance.
- Heavy dependence on the mattress category exposes the company to revenue volatility if consumer preferences shift or competition intensifies.
- Reliance on own channels—its website and COCO stores—creates vulnerability to digital disruptions, cyber-attacks, or operational downtime.
- A history of losses indicates the possibility that the company may continue to incur losses in the future.
- Inaccurate demand forecasting or poor inventory management could negatively impact operations and cash flows.
- Absence of long-term raw material supply agreements exposes the company to price fluctuations and availability risks.
- Dependence on third-party logistics partners creates exposure to transportation disruptions and rising logistics costs.
- Reliance on online marketplaces poses risks from technological disruptions, increased service costs, or competition from private-label brands.
