Wakefit Innovations—the Bengaluru‑based mattress and home solutions brand—has submitted its Draft Red Herring Prospectus (DRHP) to SEBI, planning to raise ₹468 crore via a fresh issue, with an offer-for-sale (OFS) component from existing shareholders . Prominent backers including Peak XV Partners, Verlinvest, Investcorp, and promoters like Ankit Garg and Chaitanya Ramalingegowda will partially exit—Peak XV alone is offloading up to 2.5 crore shares.

This move follows Wakefit’s conversion to a public company (changing its name to Wakefit Innovations Ltd), bolstered by new independent directors to meet governance norms . For FY25 (9 months to Dec 2024), the company reported ₹636 crore in revenue and a net loss of ₹18.4 crore Additionally, Elevation Capital has increased its stake by acquiring ₹32.5 crore worth of shares from employees ahead of the IPO.

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