Wakefit IPO GMP Today: IPO Subscribed Over 23% So Far, IPO GMP Sees Sharp Decline; Should You Subscribe?

Wakefit IPO GMP Today: Wakefit Innovations Limited is receiving lukewarm response from investors for its initial public offering (IPO) worth Rs 1,288.89 crore. Wakefit IPO was subscribed over 23% so far on day 2 of its subscription, as per Chittorgarh.com on Tuesday.

Wakefit IPO GMP Today (IPO grey market premium) also saw a sharp decline on the second day of its subscription. For those investors who constantly track Wakefit IPO, here are all the details you need to know.

Wakefit IPO Subscription Status

The issue was subscribed to over 0.23 times on Tuesday, as per Chittorgarh.com data till 11:09 am. While the IPO is receiving a tepid response, it has been subscribed over 1.12 times in the retail category, 0 times in the QIB category, and 0.11 times in the NII category. The direct-to-customer (D2C) home and sleep solutions brand was subscribed over 0.16 times on the first day of its subscription.

Wakefit IPO GMP Today

Wakefit IPO GMP declined on Tuesday as it remained at Rs 5, as per ipowatch.com. Which means that the company scrip is estimated to be listed at a price of Rs 200 per share (which is the sum of its upper price band and IPO GMP Today). Investors must note that an IPO GMP is not an accurate indication of its listing day performance. Rather, an IPO's GMP indicates its demand in the unregulated market.

Wakefit IPO GMP Details

The IPO comprises a fresh issue of 1.93 crore shares aggregating to Rs 377.18 crore and an offer for sale of 4.68 crore shares aggregating to Rs 911.71 crore. The IPO is a book build issue of Rs 1,288.89 crores.

The IPO opened for subscription on Monday, December 8 and will conclude on Wednesday, December 10. The Wakefit Innovations IPO allotment is likely to be finalised on December 11. It is likely to be listed on the BSE, NSE on December 15.

Wakefit IPO Price Band, Other Details

The company has fixed the upper price band at Rs 185 to Rs 195 per share. Whereas, the lot size for an application is 76. The minimum amount of investment required by a retail is Rs 14,820. Whereas, the lot size investment for sNII is 14 lots, equivalent to Rs 2,07,480, and for bNII, it is 68 lots, equivalent to Rs 10,07,760.

Wakefit IPO: Should You Subscribe?

The company is a leading D2C home and furnishings company offering a wide range of products, including mattresses, furniture, furnishings, etc. The one-stop D2C home and furnishings solutions provider had initially started its business with selling mattresses.
The company has fixed an upper price band of Rs 195, and its calculated valuation is expected to be slightly overvalued compared to its peers, stated SBI Securities in its report.

"At the upper price band of Rs 195, the issue is valued at EV/Sales multiple of 4.7x based on the post-issue capital. On comparing with itslisted peer, the issue appears to be expensive. Hence, we recommend investors to AVOID the issue and track the company's performance post listing," noted SBI Securities in its report.

"Over the last three years, WIL has delivered a revenue CAGR of 25% while simultaneously turning EBITDA positive in FY24 and PAT positive in 1HFY26, respectively," the report further added.

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