Based on the DRHP, the proposed IPO of the Bengaluru-based firm includes a contemporary challenge of fairness shares aggregating as much as Rs 468.2 crore and a suggestion on the market (OFS) of 5.83 crore fairness shares by the promoting shareholders.
As a part of the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, together with different promoting shareholders — Nitika Goel, Peak XV Companions Investments VI, Redwood Belief, Verlinvest S.A., SAI World India Fund I LLP, Investcorp Progress Fairness Fund, Investcorp Progress Alternative Fund, and Paramark KB Fund I — shall be offloading shares.
Wakefit proposes to make the most of the online proceeds from the contemporary challenge in the direction of funding capital expenditure of Rs 82 crore for establishing 117 new COCO – Common Shops and one COCO – Jumbo Retailer; Rs 15.4 crore for the acquisition of recent gear and equipment; Rs 145 crore for lease, sub-lease lease, and license charge funds for current shops; and Rs 108.4 crore for advertising and marketing and promoting bills to reinforce model consciousness and visibility. The remaining quantity shall be used for common company functions.
The corporate, in session with the BRLMs, could take into account a pre-IPO placement aggregating as much as Rs 93.6 crore previous to the submitting of the Pink Herring Prospectus with the ROC. If the pre-IPO placement is undertaken, the dimensions of the contemporary challenge shall be diminished to the extent of such placement.
Axis Capital Restricted, IIFL Capital Companies Restricted, and Nomura Monetary Advisory and Securities (India) Non-public Restricted are the E-book Operating Lead Managers to the difficulty. The fairness shares of the corporate are proposed to be listed on each the BSE and NSE.Wakefit, integrated in 2016, is the fastest-growing homegrown participant in India’s house and furnishings market amongst organized friends to have achieved whole revenue exceeding Rs 1,000 crore as of March 31, 2024.It provides a variety of mattresses, furnishings, and furnishings, bought by means of each its personal channels (together with its web site and COCO shops) and exterior channels (similar to main e-commerce platforms and multi-brand shops). As a full-stack, vertically built-in firm, Wakefit controls each side of its operations, from conceptualizing, designing, and engineering merchandise to manufacturing, distributing, and offering buyer expertise and engagement.
The corporate reported income from operations of Rs 986.3 crore in FY24 and Rs 971 crore for the nine-month interval ended December 31, 2024.
