Wakefit IPO Opens with Low Subscription

Wakefit, a company that sells mattresses, furniture, and home decor, is launching an IPO to raise ₹1,289 crore.

The IPO opened on December 8 and will be available for subscription until December 10.

The company plans to use the money to open more stores, pay for existing ones, and improve its products.

Wakefit is growing fast, especially in offline sales, but it's still making losses.

The IPO is priced between ₹185 and ₹195 per share, with a market cap of up to ₹6,373 crore at the top end of its price range.

On the first day, the IPO saw low subscription rates, with only 0.03× overall subscription.

Investors are watching to see if this valuation is justified, considering Wakefit's growth and the risks it faces, like high costs and competition.