One of the most-awaited initial public offerings (IPO) for the month of December, Wakefit IPO, is all set to hit the Indian primary markets next week.
Wakefit Innovations, which designs, manufactures and sells mattresses, furniture and home furnishings, aims to invite subscriptions for its IPO with an issue size of Rs 1,288.89 crore. The IPO consists of both a fresh issue and an offer for sale (OFS)
The firm follows a full-stack, vertically integrated model that covers product design, engineering, manufacturing, distribution and customer service. As per the Redseer Reports, the company is the largest direct-to-consumer (D2C) home and furnishings company in Indian by revenue in FY24.
Important dates:
Investors can apply for the Wakefit IPO from December 8 onwards. The subscription window will end on December 10. The allotment of shares is expected to take place on December 11 and the listing of shares will be finalised on December 15.
Investment details:
The minimum investment to apply for the Wakefit IPO is Rs 14,060 for a lot, which has 76 shares. The price range per share has been fixed at Rs 185-195. Investors applying in the regular category can apply up to Rs 2,00,000. Meanwhile, high networth individuals can apply between Rs 2,00,000 and Rs 5,00,000.
Among the other lined-up IPOs for December, we have Vidya Wires, Aqus and Meesho, which are open for public bidding. Wakefit IPO follows them in the second week, along with Corona Remedies and Nephrocare Health IPOs.
GMP Details:
According to various media reports, the grey market premium of Wakefit IPO stood at Rs 36 per share, hinting at a listing gain of around 18 per cent per share for the IPO applicants.
About Wakefit:
Wakefit's product range includes memory foam, latex and spring mattresses. They are also into manufacturing beds, sofas, wardrobes and other household essentials.