Wakefit IPO Day 2 Highlights: Wakefit Innovations Ltd, a company specializing in home and furnishings, saw a 15% subscription rate on the opening day of its initial public offering on Monday, December 9. While the overall interest in the offering has been moderate, it has garnered a positive response from retail investors.
Wakefit IPO GMP today is ₹5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Wakefit is indicated at ₹200 apiece, which is 2.56% higher than the IPO price of ₹195.
Wakefit IPO closes on December 10. Wakefit IPO price band has been set at ₹185-195 per share, which values the Bengaluru-based company at approximately ₹6,400 crore.
The public offering consists of a fresh issuance of equity shares totaling ₹377.18 crore, as well as an offer-for-sale (OFS) of 4,67,54,405 shares, estimated to be worth around ₹912 crore, which brings the total size of the offering to ₹1,289 crore.
Within the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders including Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I, will be divesting shares.
Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) are acting as the merchant bankers for the Wakefit Innovations IPO, whereas MUFG Intime India Pvt. Ltd. serves as the registrar for the issue.
(Stay tuned for more updates)
About The Author
