IPO Watch: Wakefit Innovations Files Draft Papers With Sebi for ₹ 468 Crore iPo

IPO Watch: Wakefit Innovations Limited Has Draft Red Herring Prospectus (DRHP) with the Capital Market Regulator, Securities and Exchange Board of India (Sebi), for an initial publish (sebi).

Wakefit, founded in 2016, has emerged as the fastest-growing indigenous brand in India’s home and furnishings sector amon organized competitors, Reaching a Total Income of Over 1,000 Crores by March 31, 2024.

The company offers an extension Array of mattresses, furniture, and home accessories, which it markets through it is more on platforms (including its website and box External Channels

Wakefit operates five manufacturing plants, with two located in Bengaluru, Karnataka, two in Hosur, Tamil Nadu, and One in Sonipat, Haryana. These facilitations are equipped with advanced important machinery and automation technologies, such as robotic arms and roller belts, which enjoy the production workflow and Minimise Waste.

For the fiscal year 2024, wakefit reported a revenue from operations of 986.3 Crore, Along With 971 Crore for the Nine-month Period Ending December 31, 2024.

IPO Details

As outlined in the DRHP, the upcoming IPO of the Bengaluru-Based Firm Consists of a Fresh Isuance of Equity Shares Totaling Up to 468.2 Crore, Along With An Offer for Sale (ofs) of 5,83,99,085 Equity shares (5.83 Crore Shares) by the Current shareholders.

Wakefit intends to allocate the proceeds from the fresh issues Financing Capital Expendits of 82 Crores to Establish 117 New Coco – Regular Stores and One Coco – Jumbo Store; 15.4 Crores for Capital Expenditures Related to Acquiring New Equipment and Machinery; 145 brus for costs associateed with lease, sub-lease Rent, and license fees for existing stores; 108.4 Crores for Marketing and Advertising Expenses aimed at Increasing Brand Awareness and Visibility, While The Remaining Funds will be directed towards general corporates.

The Book Running Lead Managers for this Issuance Include Axis Capital Limited, IIFL Capital Services Limited, and Nomura Financial Advisory and Securities (India) Private LimitD.

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