Wakefit IPO to open on Dec 8; all you need to know about mattress maker’s public issue

Wakefit Innovations, which competes with the likes of The Sleep Company, Duroflex, Kurlon, and Sleepwell in the mattress and home décor market, is set to launch its initial public offering (IPO) on December 8. The three-day issue by the D2C startup will close on December 10, while the allotment of shares is expected to be finalised on December 11. Wakefit Innovations is scheduled to make its market debut on the BSE and NSE on December 15, 2025.

The Bengaluru-based company’s IPO comprises a fresh issue of equity shares worth up to ₹377.1 crore and an offer for sale (OFS) of 4.67 crore shares by promoters and existing investors. While the price band and issue size will be announced later this week, reports suggest that the new-age company is looking to raise around ₹1,400 crore through its public issue.

Under the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with shareholders including Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP and Paramark KB Fund I, will offload part of their holdings.

Out of the ₹377 crore proposed to be raised from fresh equity, Wakefit plans to deploy ₹161.4 crore for lease and license fee payments for existing stores and ₹108.4 crore for marketing and brand-building activities. The company will use ₹30.8 crore for setting up 117 new COCO (company-owned, company-operated) stores; ₹15.4 crore for purchase of equipment and machinery; and remaining capital will go towards general corporate purposes.

Ahead of its IPO, the company raised ₹56 crore in a pre-IPO round from DSP India Fund and 360 ONE Equity Opportunities Fund, allotting 28.71 lakh shares at ₹195 per share. DSP India Fund invested ₹40 crore, while 360 ONE infused ₹16 crore.

On the financial front, Wakefit reported revenue at ₹1,305.43 crore for the financial year ended March 31, 2025, growing by 28% from ₹1,017.33 in FY24. The profit after tax (PAT) widened to ₹35 crore in FY25 as compared to a loss of ₹15.05 crore reporrted in FY24. For the six months ended September 30, 2025, revenue stood at ₹724 crore, with a profit of ₹35.5 crore.

At the operating level, EBITDA grew from ₹65.85 crore in FY24 to ₹90.83 crore in FY25, and further to ₹103.19 crore in the first half of FY26.

As of September 30, 2025, net worth of Wakefit stood at ₹557.34 crore, growing from ₹520.57 crore in FY25. The assets increased from ₹928.30 crore in FY24 to ₹1,050.75 crore in FY25, and further to ₹1,220.34 crore by September 2025.

Incorporated in 2016, the company offers a broad portfolio of mattresses, furniture, and home furnishings through its own website, COCO stores, and external channels including major e-commerce marketplaces and multi-brand outlets. Its full-stack, vertically integrated model enables control over product design, manufacturing, distribution and customer service.

The company operates five manufacturing facilities—two in Bengaluru (Karnataka), two in Hosur (Tamil Nadu), and one in Sonipat (Haryana).

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