Wakefit, the Indian home and sleep solutions company, has formally transitioned from Wakefit Innovations Private Limited to Wakefit Innovations Limited. This pivotal shift aligns with its IPO roadmap, with a draft red herring prospectus expected soon. Simultaneously, the company has strengthened its board with five independent directors.
Wakefit, established in 2016 by Ankit Garg and Chaitanya Ramalinge Gowda as a direct-to-consumer mattress brand, has expanded its portfolio to include furniture, home décor, and interior design services—all backed by vertically integrated manufacturing and logistics.
Regulatory filings confirm the legal name change to Wakefit Innovations Limited, marking a key step toward its forthcoming IPO on Indian stock exchanges. The company is preparing to file its DRHP in the near term, aiming to raise between ₹1,500–2,000 crore.
To comply with listing requirements, Wakefit has brought on five independent directors: Sudeep Nagar, Sandhya Pottigari, Aridam Paul, Gunender Kapur, and Alok Chandra Misra, reinforcing its governance framework.
Financial trends are favorable: revenue rose to ₹986.4 crore in FY24 (a 21% increase from ₹812.6 crore), while losses narrowed sharply from ₹145 crore to ₹15 crore.
Having raised over $100 million from Peak XV, Verlinvest, and Paramark Ventures, Wakefit anticipates partial exits by investors via the IPO. Its competition includes home and sleep brands like IKEA, Pepperfry, Duroflex, SleepyCat, and WoodenStreet.
Wakefit’s conversion into a public company and bolstering of its board show strong intent toward its IPO launch. With improving financial performance and seasoned governance, the brand is well-positioned to tap public markets, enabling investors to participate in its continued expansion as it competes in India’s booming home-furnishing sector.