Wakefit Raises INR 580 Cr From Anchor Investors Ahead of INR 1,288 Cr IPO Key anchor investors included major domestic and global institutions such as Ashoka Whiteoak, HDFC Life, Bajaj Life, Prudential Hong Kong, 360 One, Steadview Capital, Amundi and several leading mutual funds.
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Omnichannel furniture retailer Wakefit has secured INR 580 crore from a group of anchor investors ahead of its initial public offering. The allocation was made at a price of INR 195 per equity share, according to the company's exchange filling.
A wide set of institutional investors participated in the anchor book. The list includes Ashoka Whiteoak, HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong Limited, 360 One, Steadview Capital Master Fund, Amundi Funds New Silk Road, HDFC Mutual Fund, Axis Mutual Fund, Mirae Asset Mutual Fund, Nippon Life India Mutual Fund, Tata Mutual Fund, HSBC Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund and Mahindra Manulife Mutual Fund.
Wakefit allotted a total of 2,97,43,590 equity shares to anchor investors. Out of this, 1,61,54,332 shares were taken up by nine domestic mutual funds through 21 schemes. This portion accounted for a little over half of the entire anchor allocation.
The public issue of Wakefit, amounting to INR 1,288 crore, is scheduled to open on Monday, December 8. The price band for the issue has been fixed at INR 185 to INR 195 per share. At the upper end of the band, the company is valued at USD 669 million.
Ankit Garg, who is the Co-founder, CEO and Chairperson of the company, holds 33.03 percent stake. His shareholding is valued at INR 2,012 crore based on the upper price band. Garg intends to sell 77 lakh shares in the offering. These shares were acquired at a weighted average cost of only a few paise, and the sale is expected to fetch him about INR 150 crore.
Chaitanya Ramalingegowda, Co-founder Promoter and Executive Director, owns 9.98 percent stake in the company. He plans to sell 44 lakh shares, which is likely to bring in INR 86.8 crore.
Among the investors participating in the offer for sale, Peak XV is expected to realise about INR 397 crore, which represents a significant return. Verlinvest is set to receive around INR 199 crore, while Paramark KB Fund may pull out close to INR 50 crore.
For the financial year 2025, Wakefit reported revenue from operations of INR 1,273 crore. For the six month period ending September 30, 2025, the company posted revenue of INR 724 crore and a profit of INR 35.5 crore.
The issue is being managed by Axis Capital, IIFL Capital and Nomura as the book running lead managers. MUFG Intime is acting as the registrar.
