Wakefit IPO Funding: Steadview, WhiteOak Invest ₹186 Cr
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Wakefit Innovations Secures ₹186 Crore in Pre-IPO Funding
Home adn furnishings company wakefit Innovations Ltd has raised ₹186 crore from a group of investors – Steadview Capital, WhiteOak Capital, InfoEdge, and Capital 2B - in a pre-IPO funding round, according to a report by the Economic Times. This funding arrives just before the opening of the company’s initial public offering (IPO) for public subscription.
Funding details and Investor Breakdown
The transaction involved the collective purchase of 95.57 lakh equity shares at ₹195 per share, as detailed in a Business Standard report. Steadview Capital Mauritius led the investment with ₹101 crore, followed by WhiteOak Capital at ₹72 crore, and Capital 2B contributing ₹13 crore.
The shares were acquired from existing investors Peak XV Partners, Redwood Trust, and Verlinvest SA through secondary share transfers completed on december 3 and 4. This suggests existing investors are cashing out some holdings while new investors express confidence in Wakefit’s future.
| Investor | Investment (₹ Crore) | Shares Purchased (Lakhs) |
|---|---|---|
| Steadview Capital Mauritius | 101 | 51.79 |
| WhiteOak Capital | 72 | 36.92 |
| Capital 2B | 13 | 6.67 |
| Total | 186 | 95.57 |
anchor Investor Funding and IPO Details
On December 5, Wakefit secured an additional ₹580 crore from anchor investors, including prominent institutions like HDFC Life Insurance, bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, Amundi Funds New Silk Road, HDFC Mutual Fund, and Axis Mutual Fund. This anchor allocation further strengthens the company’s financial position before the IPO.
The company has set a price band of ₹185-₹195 per share for its ₹1,289-crore IPO, which is scheduled to open for subscription on December 8 and close on december 10. This valuation positions the Bengaluru-based firm at approximately ₹6,400 crore, as reported by