Legal transition toward IPO readiness
Wakefit, a prominent Bengaluru-based home and sleep solutions brand, has officially transitioned from Wakefit Innovations Private Limited to Wakefit Innovations Limited. This change is a significant procedural step as the company moves forward in its journey to become a publicly listed entity.
Founded with a sleep-first approach
Established in 2016 by Ankit Garg and Chaitanya Ramalingegowda, Wakefit began its journey as a direct-to-consumer (D2C) mattress startup. Over the years, the brand has diversified into a wide array of home products including furniture, home decor, and interior design services, becoming a key player in India’s competitive lifestyle space.
Vertically integrated model fuels growth
Wakefit’s success can be attributed to its end-to-end control over manufacturing and delivery. From producing goods in-house to managing last-mile delivery, the company ensures quality and cost efficiency—enabling fast scaling in a fragmented and price-sensitive Indian market.
IPO plans and capital raise
According to reports, Wakefit is gearing up to file its Draft Red Herring Prospectus (DRHP) in the upcoming months. The brand is aiming to raise between ₹1,500 crore to ₹2,000 crore (roughly $180–240 million) through its IPO—making it one of the major D2C brands to take the public route soon.
Strengthening governance with independent directors
In compliance with public listing norms, Wakefit has brought in five independent directors:
- Sudeep Nagar
- Sandhya Pottigari
- Aridam Paul
- Gunender Kapur
- Alok Chandra Misra
This governance shift reflects Wakefit’s commitment to transparency and aligns it with other IPO-bound companies like PhonePe, Amagi, and Razorpay, which also recently removed “Private” from their legal titles.
Strong investor backing and possible exits
Wakefit has raised over $140 million in funding from major firms including Peak XV Partners, Verlinvest, and Paramark Ventures (South Korea). Some of these investors are expected to partially exit during the IPO, a standard practice in India’s growing startup ecosystem.