metro india news  I new delhi

Wakefit Innovations Ltd has secured Rs 186 crore from Steadview Capital, WhiteOak Capital and Temasek-backed Capital 2B ahead of its maiden public issue opening on December 8.

The investors collectively bought 95.57 lakh shares at Rs 195 each, as per Wakefit’s public announcement. Steadview invested Rs 101 crore, WhiteOak put in Rs 72 crore, while Capital 2B infused Rs 13 crore. The shares were acquired from Peak XV Partners, Redwood Trust and Verlinvest SA through secondary transactions completed on December 3 and 4.

This comes after the home and furnishings company raised Rs 580 crore from anchor investors on December 5. The anchor list includes HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, Amundi Funds New Silk Road, HDFC Mutual Fund and Axis Mutual Fund.

Wakefit’s Rs 1,289-crore IPO, comprising a fresh issue of Rs 377.18 crore and an OFS of 4.67 crore shares worth around Rs 912 crore, will run from December 8-10. The price band has been set at Rs 185-195 per share, valuing the Bengaluru-based company at nearly Rs 6,400 crore. The promoters' stake will drop from 43.7% to around 37% post-issue.

Proceeds from the fresh issue will be used for opening 117 new COCO stores (Rs 31 crore), purchase of machinery (Rs 15.4 crore), lease and rental payments (Rs 161.4 crore), and marketing expenses (Rs 108.4 crore). The remainder will go towards general corporate purposes.

Wakefit, founded in 2016, crossed Rs 1,000 crore in total income in FY24. It sells mattresses, furniture and furnishings through its website, COCO stores, major e-commerce marketplaces and multi-brand outlets. The firm operates five manufacturing facilities across Karnataka, Tamil Nadu and Haryana. For H1 FY26, the company reported Rs 724 crore revenue and Rs 35.5 crore profit. Wakefit will list on the stock exchanges on December 15.