Wakefit boosts listing size, seeks pre-IPO fundraise

Home-furnishings brand Wakefit is gearing up for a ₹1,400-crore public listing in early December, three people with knowledge of the matter said.

- Priyamvada C & Sneha Shah

The initial public offering (IPO) also includes a ₹200-crore pre-IPO round that will see participation from foreign and domestic institutional investors before the anchor investor portion opens, two of the people said, requesting anonymity. They added that the IPO will comprise primary and secondary share sales.

The company had earlier filed draft papers with the regulator in June, where it outlined plans to raise ₹468.2 crore in primary money to more than double its store count. Adding in secondary transactions, the total issue size now stands at ₹1,400 crore, according to the people cited earlier.

Wakefit declined to comment on the development.

The Bengaluru-headquartered company joins a growing list of startups that is looking to tap the public market. In recent weeks, several companies including Lenskart, Groww, PhysicsWallah, Meesho, Fractal Analytics have either gone public or are in the process of doing so in the current quarter, marking one of the busiest periods in the capital markets this year.