Just before its IPO on December 8, Wakefit, the home and sleep solutions brand, secured Rs 580 crore from 33 anchor investors at Rs 195 per share. This makes Wakefit a closely watched D2C IPO story for FY26, showing how Indian D2C brands are moving from online businesses to public companies.
According to stock exchange filings, Wakefit assigned 29,743,590 shares to anchor investors at Rs 195 each, a sign of confidence from Indian and global institutions. Indian mutual funds invested Rs 315 crore, 54.3% of the anchor portion, across 21 schemes. Big Indian players like HDFC MF, Axis MF, Mahindra MF, Edelweiss MF, and Tata MF were major participants, along with names like Bajaj Life Insurance, 360 ONE, Nippon India, Ashoka WhiteOak, and global funds like Steadview Capital and Amundi Funds.
Axis Capital, IIFL Capital, and Nomura are managing the IPO, with MUFG Intime as the registrar, showing institutional interest in Indian D2C businesses ready for growth and profit. Wakefit plans to raise Rs 377.2 crore through a fresh issue and an offer for sale (OFS) of 4.68 crore shares, valuing the company at Rs 6,400 crore ($719 million).
The IPO’s exit part indicates liquidity. Peak XV is set to gain Rs 397 crore, a 10X return on its investment. Verlinvest will get Rs 199 crore, and Paramark KB Fund will withdraw about Rs 50 crore, showing investor belief in D2C revenue growth.
Wakefit will use the IPO money for store leases, marketing, new COCO stores, and equipment, with the rest for general business needs. This points to an omnichannel plan, boosting Wakefit’s D2C retail and ecommerce presence while staying a leader in the sleep and home category.
Wakefit is among the top D2C brands for FY25–FY26. It reported Rs 724 crore in operating revenue and Rs 35.57 crore in net profit in the first half of FY26, a turnaround. In FY25, revenue grew nearly 30% to Rs 1,274 crore from Rs 986 crore in FY24, but the company had a net loss of Rs 35 crore due to expansion and spending.
With strong anchor interest, distribution, and financials, Wakefit could be a key example of Indian D2C brands growing into national platforms, supported by public capital and consumer trust.
Wakefit’s IPO is a milestone for Indian D2C, pushing the sector into mainstream capital markets and setting the stage for future D2C IPOs. The brand’s shift from a mattress seller to a diversified retailer is a strong D2C brand story of the decade.
