Wakefit secures SEBI nod for IPO

Home and sleep solutions startup Wakefit Innovations has received regulatory approval from SEBI to proceed with its initial public offering (IPO).

The IPO comprises a fresh equity issue of Rs 468.2 crore and an offer for sale (OFS) of 5.84 crore shares by promoters and existing investors. Promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors such as Peak XV, Verlinvest, Investcorp, Redwood Trust, SAI Global, and Paramark, are expected to offload part of their holdings.

Ahead of the IPO, the co-founders were allotted around 2.6 million…