Wakefit Innovations IPO Announces with Offer for Sale
Wakefit Innovations IPO has announced its upcoming Initial Public Offering (IPO). This IPO is primarily an Offer for Sale (OFS) and includes a fresh issue component. The IPO aims to raise funds to fuel the company’s growth and expansion plans.
Company Overview
Wakefit Innovations IPO, established in 2016, is a leading D2C home and furnishings company in India. As of Fiscal 2024, it stands as the fastest-growing homegrown entity in its sector, achieving over 1,000 crore in total income (with 986.35 million being revenue from operations) within nine years of operation.
Wakefit’s revenue from operations demonstrates a robust CAGR of 24.87% from Fiscal 2022 to Fiscal 2024, outpacing the average growth of its organized peers by approximately 1.64 times. The company offers a diverse product range including mattresses, furniture, and furnishings, catering to mass, masstige, and premium market segments. In Fiscal 2024 each product category generated revenue exceeding 100 crore.
Wakefit employs an omnichannel strategy, integrating its website and COCO stores with external channels like e-commerce marketplaces and MBOs. It serves customers across 700 districts in India, and operates 98 COCO stores. A significant portion of its revenue is derived from direct sales through its own channels, enabling better customer engagement and brand loyalty.
Key Achievements
Wakefit Innovations Limited has shown impressive growth and has achieved several milestones:
- Fastest-growing homegrown entity in the home and furnishings sector.
- Achieved over 1,000 crore in total income within nine years.
- Revenue from operations demonstrates a robust CAGR of 24.87% from Fiscal 2022 to Fiscal 2024.
Financial Overview (Fiscal Year 2024)
Here’s a snapshot of the company’s financial performance:
| Financial Parameter | Amount ( in Millions) |
|---|---|
| Assets | 1043.93 |
| Revenue | 986.35 |
| Profit After Tax | -15.05 |
| Net Worth | 543.61 |
| Total Borrowing | 7.36 |
Offer for Sale (OFS) and IPO Structure
The IPO includes an Offer for Sale by existing shareholders, including Ankit Garg, Chaitanya Ramalingegowda, Nitika Goel, and various investment funds. The share allocation is structured as follows:
- Retail Investors: 10%
- Qualified Institutional Buyers (QIB): 75%
- Non-Institutional Investors (NII): 15%
The shares are proposed to be listed on the BSE and NSE.
Lead Managers and Registrar
The IPO is being managed by:
- Lead Managers: Axis Capital Limited, Iifl Capital Services Limited, Nomura Financial Advisory And Securities (India) Private Limited
- Registrar: Mufg Intime India Private Limited
Conclusion
Wakefit Innovations Limited’s IPO presents an exciting opportunity for investors. Stay tuned for updates on the IPO dates and further details. This IPO could be a significant milestone for Wakefit Innovations Limited as it continues its growth journey in the home and furnishings market.