Wakefit, a well-known Indian home and sleep solutions brand, is moving into a new phase. The company, started as a D2C brand in India, has submitted its Red Herring Prospectus (RHP) for its IPO, showing solid financial improvements in the first half of FY26. This signals confidence and readiness for the public markets.
According to the RHP, Wakefit recorded ₹724 crore in operating revenue during H1 FY26, showing sustained D2C revenue growth as Indian consumers choose quality home and sleep products. With ₹17 crore from non-operational income, total revenue for the first half of the year was ₹741 crore, showing Wakefit’s ability to build worth outside of just product sales. This strengthens Wakefit’s position as one of the latest D2C startups scaling with profit in India.
A key point of Wakefit’s performance is its profitability. The company posted ₹35.5 crore profit after tax (PAT) in H1 FY26, a turnaround from a ₹35 crore loss at the end of FY25. Wakefit’s EBITDA margin of 11.95% and ROCE of 4.38% show improving basics, operational discipline, and growing efficiencies in its D2C business model in India.
On the cost side, materials were the largest expense, showing Wakefit’s focus on product-led manufacturing, with raw material costs at 44% of total spending, followed by employee benefits at ₹79.5 crore. Finance costs and depreciation were ₹15 crore and ₹53 crore, respectively, bringing the total expense to ₹706 crore for H1 FY26. For every rupee of operating revenue, Wakefit spent ₹0.98, showing good working capital use and stronger operating leverage, which strengthens the brand’s image in D2C IPO news and among investors tracking D2C startup values.
Peak XV Partners is Wakefit’s largest external stakeholder with a 22.47% holding, followed by Verlinvest (9.79%) and Investcorp (9.29%). Other institutional names include SAI Global Investment (5.35%), Elevation Capital (4.68%), and Paramark Fund (1.63%), showing long-term investor confidence and a captable that supports expansion plans. Among promoters, Ankit Garg leads with a 33.03% stake, followed by Chaitanya Ramalingegowda with 9.98%, both important in shaping Wakefit’s D2C strategy, omnichannel presence, and brand image.
Wakefit has revised its IPO structure. The updated RHP now proposes a ₹377.2 crore fresh issue, with a reduced Offer for Sale (OFS) of 4.68 crore equity shares. This change shows careful capital planning and a focus on using funds where value creation and D2C supply chain improvements can boost scale.
As D2C market trends in 2025 are shaped by omnichannel and trusted brands, Wakefit’s IPO will be important for the Indian D2C updates ecosystem. The company’s profitability, expense management, and brand loyalty make it a strong story for the next phase of direct-to-consumer India.
If Wakefit keeps this up, it could be one of the best D2C brands in FY25–26, and a future example for direct-to-consumer startup IPO discussions, proving that India’s consumer-tech is not only growing but also maturing.
