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December 9, 2025
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- Sun, 14 December 2025
Bengaluru-based home and furnishings brand Wakefit Innovations has officially submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) in preparation for its Initial Public Offering (IPO) of ₹468.2 crore.
The company has also indicated that it is considering a pre-IPO placement of up to ₹93.6 crore, which could potentially reduce the size of the fresh issue portion.
Founded in 2016 by Ankit Garg and Chaitanya Ramalingegowda, Wakefit is a company that provides sleep and home furniture solutions. They are said to provide the most amazing mattresses in the world.
Wake Fit has a variety of categories available to cater to the housing needs of people: Chairs, TVs, “work from home essentials”, cabinet shelves, sofa and of course, mattresses.
The remaining capital will be used for general corporate purposes.
Wakefit saw a 21% growth in revenue in FY24, going up from ₹812.6 crore in FY23 to ₹986 crore. It also managed to cut its losses sharply, from ₹145.6 crore last year to just ₹15 crore in FY24.
But even with higher revenue and lower losses, the company is still not profitable.
In the nine months ending December 2024, Wakefit reported a net loss of ₹8.8 crore. It is also still losing money from its core operations, and this cash burn has been mentioned as a major risk in its DRHP.
“Any shifts in consumer preferences, any disruption in the supply chain, or heightened competition could adversely affect our business, results of operations, financial condition and cash flows,” it said in the DRHP.
[Credits for header image: CNBC tv18
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