Wakefit IPO gets subscribed 2.52X on last bidding day, driven by QIBs and retail investors
Wakefit’s Rs 1,288 crore IPO was subscribed 2.52 times, driven by strong retail demand and moderate institutional interest. The company had raised Rs 580 crore from anchor investors ahead of the issue, which is priced at Rs 185–195 per share.
Omnichannel furniture retailer Wakefit's initial public offering (IPO) was subscribed 2.52 times on the final day of bidding, supported by steady demand from retail investors and institutional buyers.
By market close on Friday, the IPO received bids for about 9.16 crore shares against 3.63 crore shares on offer, according to stock exchange data, marking the last IPO from the Indian startup ecosystem for this year.
Retail individual investors (RIIs) led demand, bidding for 2.09 crore shares against 66.09 lakh shares reserved for them, translating to a subscription of 3.17 times. Of this, bids at the cut-off price accounted for about 1.80 crore shares.
Qualified institutional buyers (QIBs) subscribed to their portion 3.04 times, placing bids for around 6.02 crore shares against an allocation of 1.98 crore shares. Foreign institutional investors accounted for the bulk of QIB demand, bidding for about 3.54 crore shares, while domestic financial institutions and mutual funds together applied for roughly 2.46 crore shares.
In contrast, the non-institutional investor (NII) segment remained the weakest, subscribed only 1.05 times, with bids for 1.04 crore shares against 99.14 lakh shares reserved. Within this, applications above Rs 10 lakh were subscribed 0.88 times, while the Rs 2 lakh to Rs 10 lakh category was subscribed 1.41 times.
Like Wakefit, PhysicsWallah’s offering saw demand pick up only towards the end of the issue period, finishing 1.8 times subscribed on the final day after muted interest during the first two days.
In comparison, Meesho’s IPO saw significantly stronger appetite, with the issue oversubscribed 79.2 times on the final day, supported by a sharp late surge from institutional investors.
Lenskart’s IPO, too, drew robust demand, with the issue subscribed 28 times by close, and fully booked on the first day itself.
The IPO for Groww was oversubscribed 17.6 times on the final day of subscription, driven by strong institutional demand, while Pine Labs’ IPO was subscribed 2.46 times by the third day.
Ahead of the issue opening, Wakefit had raised Rs 580 crore from anchor investors, including Ashoka Whiteoak, HDFC Life Insurance, Bajaj Life Insurance, 360 One, and Steadview Capital.
Domestic mutual funds—HDFC Mutual Fund, Axis Mutual Fund, Mirae Asset MF, Nippon Life India MF, Tata Mutual Fund, HSBC Mutual Fund, Bandhan Mutual Fund, and Edelweiss MF—accounted for about 54% of the anchor allocation.
The company is offering shares in a price band of Rs 185 to Rs 195 apiece, valuing Wakefit at about $669 million at the upper end.
Edited by Suman Singh