Wakefit Becomes a Public Company Ahead of IPO

The Board of Wakefit has approved the conversion of the D2C furniture and mattress startup into a public company ahead of its initial public offering (IPO), according to regulatory filings.

- FE BUREAU

The company's board also approved a resolution to change its name from Wakefit Innovations Private Limited to Wakefit Innovations Limited.

It also appointed Sudeep Nagar, Sandhya Pottigari, Aridam Paul, Gunender Kapur, and Alok Chandra Misra as independent directors to strengthen its board and governance structure ahead of its transition into a listed entity.

Through the IPO, the Bengaluru-based startup is aiming to raise around ₹1,500-2,000 crore. It has picked three investment bankers—Axis Capital, IIFL Capital Services and Nomura—for the IPO.