The wait for investors who applied for the Wakefit Innovations Initial Public Offering (IPO) is likely to end today, December 11, as the allotment of shares is expected to be finalized, while investors are now keenly anticipating the results to determine if they've been allocated shares in the home and furnishing company. The IPO received a solid response from the market, having been subscribed 2, while 52 times during its bidding period.
IPO Subscription Details and Listing Timeline
The Wakefit Innovations IPO was valued at a total of 1,288. 89 crore rupees. This included a fresh issue of 1. 93 crore new shares amounting to 377. 18 crore rupees, alongside an Offer-for-Sale (OFS) of 4. 68 crore shares by the company's promoters and existing shareholders, totaling 911. 71 crore rupees, while the company had initially filed its draft papers with the capital market regulator SEBI in June this year, receiving approval for the IPO in October. Following the allotment, the shares are slated for listing on both the. BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) on December 15.
How to Check Allotment Status on BSE
Investors who participated in the Wakefit Innovations IPO can easily check their allotment status on the official website of BSE, while to do so, navigate to the link: https://www. bseindia. com/investors/appli_check. aspx. Once on the page, select 'Equity' as the 'Issue Type'. From the dropdown menu, choose 'Wakefit Innovations IPO'. You will then need to enter either your 'Application Number' or 'PAN Details'. After inputting the required information, fill in the 'Captcha' code accurately and click on the 'Search' button. Your allotment status will then be displayed on the screen, indicating whether you've been allotted shares.
Checking Allotment via MUFG Intime India Website
Alternatively, investors can also verify their Wakefit Innovations IPO allotment status through the website of the official registrar, MUFG Intime India Pvt. Ltd. To access this, visit https://in. mpms, while mufg. com/Initial_Offer/public-issues. html, while on this page, select 'Wakefit Innovations' from the company dropdown menu. You will then be prompted to choose one of the following options. To enter your details: 'Application Number', 'Account Number/IFSC', 'PAN', or 'DP/Client ID'. After selecting your preferred method and entering the corresponding details, click the 'Submit' button. The allotment status will be shown, confirming the allocation of shares, if any.
Wakefit Innovations: A Company Overview
Wakefit Innovations, established in 2016, has emerged as a prominent player in the home and furnishing sector. The company offers an extensive range of products, including mattresses, various types of furniture, and a wide selection of home furnishings. Wakefit distributes its products through multiple channels, which include its dedicated website, company-owned and company-operated (COCO) stores, major e-commerce platforms, and a network of multi-branded outlets, while this diversified sales strategy ensures broad market reach and accessibility for its customers.
Manufacturing Facilities and Promoters
Wakefit Innovations operates five manufacturing facilities, which are crucial for its production capabilities and supply chain efficiency. Two of these facilities are located in Bengaluru, Karnataka, while another two are situated in Hosur, Tamil Nadu. The fifth manufacturing unit is based in Sonipat, Haryana, strategically positioned to cater to different regional markets. The company's promoters are Ankit Garg and Chaitanya Ramalingegowda, who have been instrumental in its growth and strategic direction. Prior to the IPO, Wakefit successfully raised 580 crore rupees from anchor investors, demonstrating significant investor confidence in the company's business model and future prospects, while this pre-IPO funding will support the company's ongoing expansion plans and operational enhancements.
