Wakefit Innovations Set to Launch IPO: A New Era for Home Furnishings

Wakefit Innovations Ltd, a prominent name in the home furnishings sector, has embarked on a new financial journey. The Bengaluru-based company has submitted initial paperwork to the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO), aiming to bolster its financial standing significantly.

The IPO encompasses a fresh issue of equity shares aggregating up to Rs 468.2 crore, alongside an offer for sale (OFS) involving 5.84 crore equity shares by existing shareholders. As outlined in the draft red herring prospectus (DRHP) filed recently, notable stakeholders like Ankit Garg, Chaitanya Ramalingegowda, and other investors plan to divest their shares.

With the capital raised, Wakefit intends a strategic expansion, planning 117 new COCO- Regular Stores and a COCO- Jumbo Store. The funds will also finance machinery acquisitions, rent and lease expenditures, marketing campaigns, and general corporate activities. Axis Capital, IIFL Capital, and Nomura Financial Advisory are key managers in this proposed financial maneuver.

(With inputs from agencies.)