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The Hindu
9 hours ago
- Business
- The Hindu
Home furnishing firm Wakefit files DRHP to raise ₹468 crore via fresh issue
Wakefit Innovations Limited, a D2C home and furnishings firm based in Bengaluru, has filed the draft red herring prospectus (DRHP) with the capital markets regulator SEBI to raise ₹468 crore through an initial public offering (IPO). According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to ₹468.2 crore and an offer for sale (OFS) of 5,83,99,085 equity shares (5.83 crore shares) by the selling shareholders. As part of the OFS, the promoters, Ankit Garg and Chaitanya Ramalingegowda and Other Selling Shareholders including Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund and Paramark KB Fund I will be offloading their shares. According to the filing, Wakefit proposes to utilise the net proceeds from the Fresh Issue towards funding of capital expenditure worth ₹82 crore for setting up of 117 new COCO – Regular Stores and one COCO – Jumbo Store; ₹15.4 crore towards capex for purchase of new equipment and machinery; ₹145 crore towards expenditure towards lease, sub-lease rent and license fee payments for existing stores; ₹108.4 crore towards marketing and advertisement expenses for enhancing the awareness and visibility of the brand and the remaining amount will be used for general corporate purposes. The company, in consultation with the BRLMs, may consider a Pre-IPO Placement aggregating up to ₹ 93.6 crore, before filing of the Red Herring Prospectus with the ROC. If the Pre- IPO Placement is undertaken, then the fresh issue will be reduced to the extent of such Pre-IPO placement, it informed. Wakefit, set up in 2016, reported revenue from operations of ₹ 986.3 crore in FY24. Axis Capital Limited, IIFL Capital Services Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the issue. The equity shares of the company are proposed to be listed on the BSE and the NSE.
Time of India
16 hours ago
- Business
- Time of India
Wakefit Innovations files IPO papers with Sebi, plans to raise Rs 468 crore via fresh issue
Wakefit Innovations has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO). According to the DRHP, the proposed IPO of the Bengaluru-based company comprises a fresh issue of equity shares aggregating up to Rs 468.2 crore and an offer for sale (OFS) of 5.83 crore equity shares by the selling shareholders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nice: Cette aide auditive fait fureur auprès des seniors Bonne audition En savoir plus Undo As part of the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders — Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund, and Paramark KB Fund I — will be offloading shares. Wakefit proposes to utilize the net proceeds from the fresh issue towards funding capital expenditure of Rs 82 crore for setting up 117 new COCO – Regular Stores and one COCO – Jumbo Store; Rs 15.4 crore for the purchase of new equipment and machinery; Rs 145 crore for lease, sub-lease rent, and license fee payments for existing stores; and Rs 108.4 crore for marketing and advertising expenses to enhance brand awareness and visibility. The remaining amount will be used for general corporate purposes. The company, in consultation with the BRLMs, may consider a pre-IPO placement aggregating up to Rs 93.6 crore prior to the filing of the Red Herring Prospectus with the ROC. If the pre-IPO placement is undertaken, the size of the fresh issue will be reduced to the extent of such placement. Live Events Axis Capital Limited , IIFL Capital Services Limited , and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the issue. The equity shares of the company are proposed to be listed on both the BSE and NSE. Wakefit, incorporated in 2016, is the fastest-growing homegrown player in India's home and furnishings market among organized peers to have achieved total income exceeding Rs 1,000 crore as of March 31, 2024. It offers a wide range of mattresses, furniture, and furnishings, sold through both its own channels (including its website and COCO stores) and external channels (such as major e-commerce platforms and multi-brand outlets). As a full-stack, vertically integrated company, Wakefit controls every aspect of its operations, from conceptualizing, designing, and engineering products to manufacturing, distributing, and providing customer experience and engagement. The company reported revenue from operations of Rs 986.3 crore in FY24 and Rs 971 crore for the nine-month period ended December 31, 2024.
Economic Times
16 hours ago
- Business
- Economic Times
Wakefit Innovations files IPO papers with Sebi, plans to raise Rs 468 crore via fresh issue
Wakefit Innovations has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO). ADVERTISEMENT According to the DRHP, the proposed IPO of the Bengaluru-based company comprises a fresh issue of equity shares aggregating up to Rs 468.2 crore and an offer for sale (OFS) of 5.83 crore equity shares by the selling shareholders. As part of the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders — Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund, and Paramark KB Fund I — will be offloading shares. Wakefit proposes to utilize the net proceeds from the fresh issue towards funding capital expenditure of Rs 82 crore for setting up 117 new COCO – Regular Stores and one COCO – Jumbo Store; Rs 15.4 crore for the purchase of new equipment and machinery; Rs 145 crore for lease, sub-lease rent, and license fee payments for existing stores; and Rs 108.4 crore for marketing and advertising expenses to enhance brand awareness and visibility. The remaining amount will be used for general corporate purposes. The company, in consultation with the BRLMs, may consider a pre-IPO placement aggregating up to Rs 93.6 crore prior to the filing of the Red Herring Prospectus with the ROC. If the pre-IPO placement is undertaken, the size of the fresh issue will be reduced to the extent of such placement. Axis Capital Limited, IIFL Capital Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the issue. The equity shares of the company are proposed to be listed on both the BSE and NSE. ADVERTISEMENT Wakefit, incorporated in 2016, is the fastest-growing homegrown player in India's home and furnishings market among organized peers to have achieved total income exceeding Rs 1,000 crore as of March 31, offers a wide range of mattresses, furniture, and furnishings, sold through both its own channels (including its website and COCO stores) and external channels (such as major e-commerce platforms and multi-brand outlets). As a full-stack, vertically integrated company, Wakefit controls every aspect of its operations, from conceptualizing, designing, and engineering products to manufacturing, distributing, and providing customer experience and engagement. ADVERTISEMENT The company reported revenue from operations of Rs 986.3 crore in FY24 and Rs 971 crore for the nine-month period ended December 31, 2024.
Mint
16 hours ago
- Business
- Mint
IPO Watch: Wakefit Innovations files draft papers with SEBI for ₹468 crore IPO
IPO Watch: Wakefit Innovations Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Wakefit, founded in 2016, has emerged as the fastest-growing indigenous brand in India's home and furnishings sector among organised competitors, reaching a total income of over ₹ 1,000 crores by March 31, 2024. The company offers an extensive array of mattresses, furniture, and home accessories, which it markets through its own platforms (including its website and COCO – Stores) as well as through external channels (like prominent e-commerce sites and multi-brand retailers). Wakefit operates five manufacturing plants, with two located in Bengaluru, Karnataka, two in Hosur, Tamil Nadu, and one in Sonipat, Haryana. These facilities are equipped with advanced imported machinery and automation technologies, such as robotic arms and roller belts, which enhance the production workflow and minimise waste. For the fiscal year 2024, Wakefit reported a revenue from operations of ₹ 986.3 crore, along with ₹ 971 crore for the nine-month period ending December 31, 2024. As outlined in the DRHP, the upcoming IPO of the Bengaluru-based firm consists of a fresh issuance of equity shares totaling up to ₹ 468.2 crore, along with an offer for sale (OFS) of 5,83,99,085 equity shares (5.83 crore shares) by the current shareholders. Wakefit intends to allocate the proceeds from the Fresh Issue towards financing capital expenditures of ₹ 82 crores to establish 117 new COCO – Regular Stores and one COCO – Jumbo Store; ₹ 15.4 crores for capital expenditures related to acquiring new equipment and machinery; ₹ 145 crores for costs associated with lease, sub-lease rent, and license fees for existing stores; ₹ 108.4 crores for marketing and advertising expenses aimed at increasing brand awareness and visibility, while the remaining funds will be directed towards general corporate purposes. The Book Running Lead Managers for this issuance include Axis Capital Limited, IIFL Capital Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
