Wakefit, India’s homegrown sleep and furniture brand, is taking the leap into public markets. The startup filed its Draft Red Herring Prospectus (DRHP) with SEBI on June 27. It plans to raise ₹468 crore through a fresh issue of shares and around ₹2,000 crore in total, including an offer for sale (OFS).
This IPO will allow investors and founders to cash in on the company’s growth story. Over 5.8 crore shares will be sold via OFS. That includes shares from major investors like Peak XV Partners, Paramark Ventures, Verlinvest SA, Redwood Trust, and Investcorp. Founders Ankit Garg and Chaitanya Ramalingegowda will also offload a portion of their stake.
From Mattress Startup to IPO Star
Founded in 2016, Wakefit started by selling mattresses online. Over time, it expanded into furniture—beds, chairs, tables, and more. That move paid off.
The company’s revenue grew 5x in just four years—from ₹199 crore in FY20 to over ₹1,000 crore in FY24. Losses have dropped sharply too—from ₹146 crore in FY23 to just ₹15 crore in FY24.
That’s a clear sign Wakefit isn’t just growing fast—it’s growing smart.
IPO Plan Backed by Top Advisers
To prepare for its IPO, Wakefit hired Axis Capital, Nomura, and IIFL Capital Services as advisers. These are top names in the business, showing how serious Wakefit is about its public debut.
Wakefit has already raised over $100 million (₹850 crore) from global backers, and the IPO will give some of them a smooth exit.
This move comes as India’s home and sleep solutions market is booming. Wakefit now competes with The Sleep Company, WoodenStreet, and IKEA—all heavy hitters in the space.
Why It Matters
This IPO isn’t just about numbers. It’s a signal. An Indian D2C brand that started with mattresses is now going public, proving that profit, growth, and simplicity can coexist. It also offers a benchmark for other D2C brands dreaming of the public market.
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