Wakefit Innovations IPO allotment: Check the application status, latest GMP & listing date

Wakefit Innovations is likely to finalize the basis of allotment of its shares on Thursday, December 11. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Friday or latest over the weekend. The direct-to-consumer (D2C) home and sleep solutions player saw a muted response from the investors.

The IPO of Wakefit Innovations was open for bidding between December 08 and December 10. It had offered its shares in the price band of Rs 185-195 per share with a lot size of 76 shares. The company raised a total of Rs 1,288.89 crore via IPO, which included a fresh shares sale of Rs 377.18 crore and offer-for-sale (OFS) up to 4,67,54,405 shares worth 911.71 crore.

The issue was overall subscribed a total of only 2.52 times, attracting bids nearly Rs 1,800 crore through 2.33 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 3.04 times, while the non-institutional investors (NIIs) quota was booked 1.05 times. The allocation for retail investors was subscribed 3.17 times during the three-day bidding process.

The grey market premium (GMP) of Wakefit Innovations has seen a sharp correction on the back of weak bidding and jittered sentiments in the broader markets. Last heard, it was commanding no grey market premium (GMP), suggesting a weak listing for the investors. The GMP stood around Rs 5-7 when the bidding kicked off and stood around Rs 35 before bidding commenced.

Incorporated in 2016, Bengaluru-Wakefit Innovations is a Indian D2C (direct-to-consumer) home and sleep solutions company, best known for its high-quality and affordable range of mattresses, furniture, and home décor products. It gained popularity with its memory foam mattresses sold directly to customers online, eliminating middlemen and offering competitive prices.

Axis Capital, IIFL Capital Service and Nomura Financial Advisory and Securities (India) are the book running lead managers and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Friday, December 12. Shares of the company shall be listed on both BSE and NSE with Monday, December 15 as the date of listing.

Investors, who had bid for the issue of Wakefit Innovations, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Wakefit Innovations Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of KFin Technologies Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.