Home and sleep solutions company Wakefit has received the green light from the Securities and Exchange Board of India (SEBI) to launch its Initial Public Offering (IPO). The Bengaluru-based brand, known for its mattresses, furniture, and home décor products, is now gearing up to enter the stock market, marking a major milestone in its growth journey.
The company had filed its draft red herring prospectus (DRHP) with SEBI earlier this year. The IPO will include a fresh issue of shares worth ₹400 crore and an offer for sale (OFS) by existing shareholders, allowing early investors to partially exit.
Founded in 2016 by Ankit Garg and Chaitanya Ramalingegowda, Wakefit started as a direct-to-consumer (D2C) mattress brand and has since expanded into multiple home categories. The company has raised over ₹400 crore in funding from investors such as Sequoia Capital India (now Peak XV Partners), Verlinvest, and SIG Global.
According to reports, Wakefit aims to use the IPO proceeds to expand its manufacturing capacity, open more offline stores, and strengthen its supply chain network.
Summary Table
| Particulars | Details |
|---|---|
| Company Name | Wakefit Innovations Pvt Ltd |
| Founded | 2016 |
| Founders | Ankit Garg, Chaitanya Ramalingegowda |
| Industry | Home & Sleep Solutions (Mattresses, Furniture, Décor) |
| IPO Type | Fresh Issue + Offer for Sale (OFS) |
| Fresh Issue Size | ₹400 crore |
| Regulator Approval | Received SEBI Nod |
| Major Investors | Peak XV Partners, Verlinvest, SIG Global |
| Use of Funds | Manufacturing expansion, new stores, logistics, and marketing |
| Headquarters | Bengaluru, India |
🧭 What’s Next for Wakefit?
With SEBI approval in hand, Wakefit is expected to move ahead with its IPO launch once market conditions are favourable. Analysts believe the company could target a valuation of around ₹3,000–₹3,500 crore, reflecting investor confidence in India’s fast-growing D2C home segment.
The listing would also make Wakefit one of the first major D2C furniture and sleep brands to go public — potentially paving the way for other startups in the home category.
