Home and furnishings company Wakefit Innovations is set to launch its initial public offering (IPO) on December 8, comprising a fresh issue of shares worth Rs 377 crore.
The IPO of the Bengaluru-based company will conclude on December 10, and anchor investors will be allocated shares on December 5, according to the red herring prospectus (RHP).
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.
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, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund and Paramark KB Fund I will be offloading shares.
Wakefit proposes to utilize the proceeds from the fresh issue, worth Rs 31 crore, for setting up 117 new COCO Regular
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Wakefit to float IPO on Dec 8, aims to raise ₹377 cr via fresh issue
