Why Wakefit IPO GMP Crashed From 18% to 2% on Day 1? Subscription at 63% for Retail; Check Listing Date

The Wakefit Innovations IPO opened with healthy retail interest, but the grey market sentiment took a sharp U-turn. While the IPO recorded a 0.63 times subscription in the retail category on Day 1, the Wakefit IPO GMP today crashed from 18.46% to just 2.56%, which surprised many investors, especially because the issue had shown strong early demand in the grey market over the past few days. Even though GMP is not an official indicator, the sharp decline before listing means the IPO is seeing weak enthusiasm among grey market traders.

Wakefit IPO Subscription Numbers on Day 1

The Wakefit IPO saw moderate subscription on its opening day. As of December 8, 2:54 PM, the overall subscription of the IPO stood at 0.13 times. The Retail Category dominated early demand and was subscribed 0.63 times. Muted participation was seen in NII, which subscribed only 0.5 times, while the QIB section remained untouched.

Wakefit IPO GMP Today

The latest Wakefit IPO GMP stands at Rs. 5, according to data from the InvestorGain website. The estimated Wakefit IPO listing price is around Rs. 200 per share, implying a nominal 2.56% listing gain over the upper price band of Rs. 195. This is a massive correction from the nearly 18% GMP on December 7.

The GMP movement shows that while retail interest is strong, the overall market sentiment around the IPO is cautious due to fundamental concerns and sector-wide competition.

Wakefit IPO Details: GMP, Price Band, Key Dates

The Wakefit Innovations IPO, sized at Rs. 1,288.89 crore, comprises a combination of fresh issue and Offer for Sale (OFS). The IPO opened for subscription on December 8 and will close on December 10, 2025. The Wakefit IPO allotment date is scheduled for December 11, 2025, and the company is expected to list on the NSE and BSE on December 15, 2025. The IPO's price band is set at Rs. 185 to Rs. 195 per share.
Investors remain divided, with some betting on long-term growth, while others remain wary due to the company's financial performance and high valuations.

Is the Wakefit IPO a Good Bet?

Despite the falling GMP, experts advise against making decisions based solely on grey market indicators. Wakefit is one of India's leading D2C home and furnishing brands, known for its strong omnichannel reach, strong digital marketing presence, and fast-growing customer base.
The company's ecosystem includes its website, exclusive COCO stores, MBOs, online marketplaces, and OTT-driven discovery channels that have helped Wakefit build strong brand recall in a competitive market.

Based on the Capital Market report on the IPO, "The company generates nearly 60% of its revenue from mattresses, making it highly vulnerable to shifts in consumer behaviour and supply chain disruptions. Wakefit has also incurred losses in past years, with negative cash flows in FY23 and a net loss of Rs. 35 crore in FY25."

"In H1 FY26, Wakefit reported a profit of Rs. 35.57 crore on Rs. 724 crore revenue. For FY25, consolidated revenue rose 29.1% to Rs. 1,273.69 crore, but net loss widened to Rs. 35 crore. Operating profit improved significantly, but depreciation and interest costs continued to weigh on the bottom line," the report further mentioned.

Analysts at Capital Market stand neutral on the IPO, stating that the IPO poses high risk, but however, active risk seekers can try it; the rest can avoid it.

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