Wakefit’s Rs 1,289-cr IPO opens on Dec 8

New Delhi: Home and furnishings company Wakefit Innovations Ltd is aiming to raise Rs 1,289 crore through its initial public offering (IPO), which opens for subscription on December 8.

In a public announcement on Tuesday, the company has fixed a price band of Rs 185-195 per share for its maiden public offering, valuing the company at nearly Rs 6,400 crore. The IPO of the Bengaluru-based company will conclude on December 10 and anchor investors will be allocated shares on December 5.

The company’s maiden public offering comprises a fresh issue of equity shares worth up to Rs 377.18 crore and an Offer For Sale (OFS) of 4,67,54,405 shares, valued at around Rs 912 crore. Together, this takes the total issue size to Rs 1,289 crore.

As part of the OFS, the promoters - Ankit Garg and Chaitanya Ramalingegowda and other selling shareholders - Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund and Paramark KB Fund I will be offloading shares.