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Wakefit Innovations has raised INR 186 crore from Steadview Capital, WhiteOak Capital, and Capital 2B through secondary share sales, complementing an earlier anchor round that raised INR 580 crore. The Bengaluru-based home-furnishing company is preparing for its IPO worth INR 1,289 crore, priced at INR 185-195 per share, which includes a fresh issue and offer-for-sale. Proceeds are earmarked for new store expansion, equipment upgrades, marketing, and general corporate purposes. With a six-month revenue of INR 724 crore and profit of INR 35.5 crore, Wakefit strengthens its vertical integration and market positioning ahead of going public.
Wakefit Innovations Ltd has secured INR 186 crore from Steadview Capital, WhiteOak Capital, and Capital 2B through secondary share transactions, just before the company launches its initial public offering. The investors acquired a total of 95.57 lakh equity shares at INR 195 per share. Steadview Capital contributed approximately INR 101 crore, WhiteOak Capital around INR 72 crore, and Capital 2B about INR 13 crore. The shares were purchased from existing stakeholders, including Peak XV Partners, Redwood Trust, and Verlinvest SA, through transactions completed in early December. Advertisement
This investment follows a prior anchor-investor round in which Wakefit raised INR 580 crore from domestic and international institutions such as HDFC Mutual Fund, Axis Mutual Fund, and Prudential Hong Kong. With these pre-IPO investments, Wakefit is preparing to launch its IPO worth INR 1,289 crore, which comprises a fresh issue of INR 377.18 crore and an offer-for-sale of around INR 912 crore. The IPO is priced in the band of INR 185-195 per share, valuing the Bengaluru-based home-furnishing company at nearly INR 6,400 crore.
Following the offer-for-sale, the promoters Ankit Garg and Chaitanya Ramalingegowda along with other selling investors, will see their stakes reduce. Promoter shareholding is expected to fall from about 43.7 per cent to roughly 37 per cent. Other selling investors include Nitika Goel, Peak XV Partners, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I.
Wakefit plans to deploy the proceeds from the fresh issue across multiple initiatives, including setting up 117 new COCO-regular stores, purchasing equipment and machinery, funding lease and sub-lease rentals for existing stores, and strengthening marketing and advertising efforts. A portion of funds will also support general corporate purposes, ensuring continued operational growth.
On the business front, Wakefit reported revenue from operations of INR 724 crore and a profit of INR 35.5 crore for the six months ended September 30, 2025. The company operates through a vertically integrated model combining design, manufacturing, distribution, and retail both through its own stores and online channels. As of March 31, 2024, Wakefit had already crossed INR?1,000?crore in total revenue, marking strong growth ahead of its public listing.
The company's trajectory indicates a robust market presence in home furnishing, supported by consistent financial performance and strategic expansion plans. With investor confidence reflected in pre-IPO rounds, Wakefit appears well-positioned to leverage its IPO proceeds to accelerate retail reach and operational efficiency.
Source PTI
5th Jun, 2025
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