| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹185 to ₹195 | 76 | 08th Dec, 2025 –10th Dec, 2025 | ₹1,288.89 Cr |
Wakefit Innovations Ltd
WakeFit Innovations Ltd. is the largest D2C home and furnishings brand in India by revenue in FY24. Within just nine years of operations, it has emerged as the fastest homegrown player among organized peers to surpass total income of Rs. 1000 crores in the home and furnishings market, with Rs. 986 crores generated from operations as of March 31, 2024. Revenue from operations has grown at a robust CAGR of 24.9% between FY22 and FY24, approximately 1.6x the average growth rate of organized competitors, highlighting strong brand momentum, customer adoption, and market share gains. The company operates an extensive omnichannel model, offering a comprehensive portfolio spanning mattresses, furniture, and furnishings, ensuring consistent consumer engagement across digital and offline formats. Its full-stack, vertically integrated operating structure covering product conceptualization, design, engineering, manufacturing, distribution, and customer experience, provides end-to-end control, enabling superior product quality, operational efficiencies, and faster innovation cycles. Wakefit’s business model is anchored in full-stack control from design to manufacturing and last-mile delivery. Its infrastructure backbone comprises 1 Mother Warehouse, 7 Inventory Holding Points (INHPs) and 18 Points of Delivery (PODs), supported by an owned fleet and trained installers. This deep operational moat, difficult for competitors to replicate, enables scalable production, predictable installation, and efficient inventory management. Wakefit further strengthens its reach through 125+ COCO stores and an omnichannel presence, while its mattress-led flywheel lowers customer acquisition cost. The company operates across three segments, mattresses 60%, furniture 30% and furnishings 10%.
Objective of the Wakefit Innovations Ltd IPO
The company will utilize net proceeds in the following manner:
- Capital expenditure to be incurred by the company for setting up of 117 new COCO – Regular Stores;
- Expenditure for lease, sub-lease rent and license fee payments for existing COCO – Regular Stores;
- Capital expenditure to be incurred by the company for purchase of new equipment and machinery;
- Marketing and advertisement expenses towards enhancing the awareness and visibility of the brand; and
- General corporate purposes.
Rationale To Wakefit Innovations Ltd IPO
Largest and fastest growing D2C home and furnishing solutions destination
The company operates as a scaled home and furnishing solutions provider with a comprehensive product portfolio spanning mattresses, furniture, and furnishings, supported by a strong omnichannel presence. It is the largest D2C home and furnishings brand in India by revenue in FY24 and the fastest homegrown player among organized peers to surpass Rs. 1000 crores in total income within just nine years of operations (Rs. 986 crores revenue from operations). Revenue from operations grew at a robust 24.9% CAGR over FY22-FY24, approximately 1.6x the average growth of organized industry players, highlighting strong execution and brand momentum. The company’s differentiated strategy is anchored in a high share of direct-to-consumer sales. Own channels (website + COCO stores) contributed 65%, 57%, 58% and 57% of revenue in H1FY26, FY25, FY24 and FY23, respectively, demonstrating the brand’s ability to attract and convert customers within proprietary platforms. The D2C-heavy mix enhances customer engagement, drives higher order values, boosts repeat purchases, and optimizes conversion rates through data-driven insights and direct customer feedback. Importantly, direct channels also deliver superior profitability by bypassing third-party marketplace commissions and distributor margins. The company has aggressively scaled its COCO network from 23 stores in FY23 to 125 stores across 62 cities by September 2025, strengthening experiential retail, increasing touchpoints, and reinforcing brand visibility. These stores, combined with the capital-efficient and scalable website channel, create an integrated ecosystem that allows the company to control pricing, experience, product education, and customer lifetime value. A majority of the company’s revenue originates from its own channels, underscoring the brand’s consumer trust and preference over established marketplaces. The direct interface with customers enables richer insights for product innovation, personalized marketing, and targeted retention interventions, further strengthening the brand’s competitive moat and supporting continued growth.
Full-stack vertically integrated operations with differentiated processes and technical capabilities
The company has built strong in-house design, engineering, and manufacturing capabilities, anchored in a technology-centric R&D framework. Advanced CAD/CAM systems enable precision design, rapid prototyping, and digitally integrated manufacturing. Designs are stored and updated through a cloud-based architecture, allowing real-time synchronization with machinery across facilities. This end-to-end digital workflow materially reduces manual intervention, minimizes reconfiguration downtime, improves consistency, and enhances overall production efficiency. The company’s focus on ergonomics, functionality, and dimensional accuracy supports differentiated product quality and faster design-to-market cycles. On the operations front, the company has established a scalable and cost-efficient supply chain infrastructure comprising a 1.55-lakh sq. ft. mother warehouse in Hosur, seven INHPs, and 18 PODs as of September 2025. The mother warehouse functions as the central inventory and dispatch hub, while INHPs hold key SKUs, particularly mattresses and marketplace-driven categories to compress delivery timelines and reduce logistics costs. PODs serve as hyperlocal transit hubs supporting last-mile delivery and on-ground installation. This distributed logistics architecture enhances fulfillment speed and customer experience, particularly in larger-format categories like furniture. Additionally, a dedicated workforce of 198 installation specialists ensures professional assembly and post-sales service, reinforcing customer satisfaction and strengthening the company’s brand promise.
Valuation of Wakefit Innovations Ltd IPO
Wakefit’s business model is anchored in full-stack control from design to manufacturing and last-mile delivery. Its infrastructure backbone comprises 1 Mother Warehouse, 7 Inventory Holding Points (INHPs) and 18 Points of Delivery (PODs), supported by an owned fleet and trained installers. This deep operational moat, difficult for competitors to replicate, enables scalable production, predictable installation, and efficient inventory management. Wakefit further strengthens its reach through 125+ COCO stores and an omnichannel presence, while its mattress-led flywheel lowers customer acquisition cost. The company operates across three segments, mattresses 60%, furniture 30% and furnishings 10%. India’s Home & Furnishings market is estimated to be Rs. 2.8 to 3.0 trillion (USD 34 to 36 billion) as of CY24, and is projected to grow to reach Rs. 5.2 to 5.9 trillion (USD 63 to 71 billion) by CY30. The home and furnishings market is projected to grow at 11% to 13% CAGR from CY24 to CY30, fueled by organized retail growth, rising online dominance, and premiumization. This provides substantial headroom for Wakefit Innovations Ltd. to accelerate its scale-up. The company is currently prioritizing structural cost optimization by streamlining its supply chain, shifting from a factory to mother warehouse model to direct dispatches to INHPs, which is expected to improve efficiencies and reduce logistics costs. On the financial front, revenue grew at a robust CAGR of 25.2% between FY23 and FY25, losses narrowed in FY24, and the company delivered a profit of Rs. 36 crores in FY25. At the upper price band of Rs. 195, WakeFit Innovations Ltd. is valued at a P/S multiple of 5.5x based on FY25 sales. Given the company’s expansion plans, expanding margins, scalable business model, and industry growth potential, we believe the valuation is justified. Thus, we recommend a “SUBSCRIBE” rating for this issue with a medium to long-term investment horizon.
What is the Wakefit Innovations Ltd IPO?
The initial public offer (IPO) of Wakefit Innovations Ltd offers an early investment opportunity in Wakefit Innovations Ltd . A stock market investor can buy Wakefit Innovations Ltd IPO shares by applying in IPO before All Wakefit Innovations Ltd shares get listed at the stock exchanges. An investor could invest in Wakefit Innovations Ltd IPO for short term listing gain or a long term.
How to apply for the Wakefit Innovations Ltd IPO through StoxBox?
To apply for the Wakefit Innovations Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Wakefit Innovations Ltd IPO open?
Wakefit Innovations Ltd IPO is opening on 08th Dec 2025. Apply Now
What is the lot size of the Wakefit Innovations Ltd IPO?
The Lot Size of Wakefit Innovations Ltd IPO is 76 equity shares. Login to your account now.
When is the Wakefit Innovations Ltd allotment date?
The allotment Date for Wakefit Innovations Ltd IPO is 11th Dec 2025. Login to your account now.
When is the Wakefit Innovations Ltd IPO listing date?
The listing Date for Wakefit Innovations Ltd IPO is 15th Dec 2025. Login to your account now
What is the minimum investment required for the Wakefit Innovations Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,820. Login to your account now
What is the maximum investment allowed for the Wakefit Innovations Ltd IPO?
In the Retail segment the maximum investment requirement is Rs. 1,92,660. Login to your account now
What are the risks associated with investing in the Wakefit Innovations Ltd IPO?
- The company’s performance is closely tied to the strength of its flagship “Wakefit” brand, which anchors its mattress, furniture, and furnishings portfolio. Given the brand’s central role in driving customer acquisition, pricing power, and category expansion, any dilution, impairment, or negative perception of the Wakefit brand could materially impact business momentum, operating performance, financial stability, and cash flows. Maintaining brand integrity is therefore a critical strategic and operational priority for the company.
- The company derives a significant portion of its revenue from the mattress product category. Revenue from the sale of mattresses accounted for 60.65%, 61.35%, 57.54% and 63.50% of revenue from operations in the six-month period ended September 30, 2025 and FY25, FY24 and FY23, respectively. Any shifts in consumer preferences, any disruption in the supply chain, could adversely affect business, results of operations, financial condition and cash flows.
When will the Wakefit Innovations Ltd IPO shares be credited to my Demat account?
The Wakefit Innovations Ltd IPO be credited to the account on allotment date which is 12th Dec 2025. Login to your account now
Where can I find the Wakefit Innovations Ltd IPO prospectus?
The prospectus of Wakefit Innovations Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE
