Steadview Cap, WhiteOak, Capital 2B invest ₹186 cr in Wakefit via secondary deal ahead of IPO

Key Highlights

• These shares were purchased from Peak XV Partners, Redwood Trust and Verlinvest SA, and secondary share transfers were completed on December 3 and 4.
• According to market sources, robust demand for Wakefit prompted several existing shareholders to offload additional shares, outside the IPO, to three new entities that subsequently became shareholders in the company.
• Following this round, Wakefit on December 5 collected ₹580 crore from anchor investors, including HDFC Life Insurance, Bajaj Life Insurance, Prudential Hong Kong, 360 One, Steadview Capital, Amundi Funds New Silk Road, HDFC Mutual Fund, and Axis Mutual Fund.
• The public issue comprises a fresh issue of equity shares worth up to ₹377.18 crore and an offer-for-sale (OFS) of 4,67,54,405 shares, valued at around ₹912 crore, taking the total issue size to ₹1,289 crore.
• As part of the OFS, promoters Ankit Garg and Chaitanya Ramalingegowda, along with other selling shareholders -- Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest SA, SAI Global India Fund I LLP, and Paramark KB Fund I -- will offload shares.