Wakefit Solutions share price made a muted stock market debut on Monday, December 15. The shares of got listed at the same price as the initial public offering (IPO) price of ₹195.
This means that the IPO allottees made no listing gain on the listing.
The stock’s debut largely matched grey market indications, which had pointed to a muted opening. Ahead of listing, the shares of were trading at a premium of ₹7, as per investorgain.com. This means that the GMP of Wakefit Solutions IPO is +7.
Wakefit Solutions IPO details
The IPO saw a moderate level of interest, with overall subscriptions reaching 2.52 times. Retail investors drove most of the demand, subscribing 3.17 times their quota, while Qualified Institutional Buyers (QIBs) placed bids amounting to 3.04 times their allocation. In comparison, the Non-Institutional Investor (NII) segment showed relatively muted interest, subscribing 1.05 times.
Through the public issue, the company raised a total of ₹1,288.89 crore, comprising a fresh issue of 1.93 crore shares worth ₹377.18 crore and an offer for sale (OFS) of 4.68 crore shares aggregating ₹911.71 crore.
The IPO had a lot size of 76 shares, implying a minimum retail investment of ₹14,820 at the top end of the price band.
Funds raised via the fresh issue will be deployed across several areas, including capital expenditure for opening 117 new COCO–Regular stores, meeting lease and rental obligations for existing outlets, procurement of equipment and machinery, ramping up marketing and advertising efforts, and addressing general corporate needs.
The issue was available for subscription between December 8 and December 10, with the price band set at ₹185– ₹195 per share.
Ahead of the issue, Wakefit had secured ₹580 crore from anchor investors, comprising prominent domestic and international funds, strengthening confidence in the offering despite a cautious tone in the secondary markets.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.