Home and furnishings company Wakefit Innovations Ltd is gearing up to launch its initial public offering (IPO) on December 8 to raise around Rs 1,400 crore.
The company’s maiden public offering is a combination of a fresh issue of equity shares aggregating up to Rs 377.1 crore and an offer-for-sale (OFS) of 4.67 crore shares by the selling shareholders, according to the red herring prospectus (RHP).
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 S.A., SAI Global India Fund I LLP and Paramark KB Fund I — will be offloading shares.
Market sources said that the total issue size would be around Rs 1,400 crore.
The IPO of the Bengaluru-based company will conclude on December 10, and anchor investors will be allocated shares on December 5, the RHP noted.
Wakefit proposes to utilize the proceeds from the fresh issue, worth Rs 31 crore, for setting up 11
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Wakefit Innovations to float IPO on December 8; eyes ₹1,400 crore
