Latest news with #FreshIssue
Mint
27-06-2025
- Business
- Mint
IPO Watch: Wakefit Innovations files draft papers with SEBI for ₹468 crore IPO
IPO Watch: Wakefit Innovations Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Wakefit, founded in 2016, has emerged as the fastest-growing indigenous brand in India's home and furnishings sector among organised competitors, reaching a total income of over ₹ 1,000 crores by March 31, 2024. The company offers an extensive array of mattresses, furniture, and home accessories, which it markets through its own platforms (including its website and COCO – Stores) as well as through external channels (like prominent e-commerce sites and multi-brand retailers). Wakefit operates five manufacturing plants, with two located in Bengaluru, Karnataka, two in Hosur, Tamil Nadu, and one in Sonipat, Haryana. These facilities are equipped with advanced imported machinery and automation technologies, such as robotic arms and roller belts, which enhance the production workflow and minimise waste. For the fiscal year 2024, Wakefit reported a revenue from operations of ₹ 986.3 crore, along with ₹ 971 crore for the nine-month period ending December 31, 2024. As outlined in the DRHP, the upcoming IPO of the Bengaluru-based firm consists of a fresh issuance of equity shares totaling up to ₹ 468.2 crore, along with an offer for sale (OFS) of 5,83,99,085 equity shares (5.83 crore shares) by the current shareholders. Wakefit intends to allocate the proceeds from the Fresh Issue towards financing capital expenditures of ₹ 82 crores to establish 117 new COCO – Regular Stores and one COCO – Jumbo Store; ₹ 15.4 crores for capital expenditures related to acquiring new equipment and machinery; ₹ 145 crores for costs associated with lease, sub-lease rent, and license fees for existing stores; ₹ 108.4 crores for marketing and advertising expenses aimed at increasing brand awareness and visibility, while the remaining funds will be directed towards general corporate purposes. The Book Running Lead Managers for this issuance include Axis Capital Limited, IIFL Capital Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited.
Mint
27-06-2025
- Business
- Mint
IPO Watch: Wakefit Innovations files draft papers with SEBI for ₹468 crore IPO
IPO Watch: Wakefit Innovations Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Wakefit, founded in 2016, has emerged as the fastest-growing indigenous brand in India's home and furnishings sector among organised competitors, reaching a total income of over ₹ 1,000 crores by March 31, 2024. The company offers an extensive array of mattresses, furniture, and home accessories, which it markets through its own platforms (including its website and COCO – Stores) as well as through external channels (like prominent e-commerce sites and multi-brand retailers). Wakefit operates five manufacturing plants, with two located in Bengaluru, Karnataka, two in Hosur, Tamil Nadu, and one in Sonipat, Haryana. These facilities are equipped with advanced imported machinery and automation technologies, such as robotic arms and roller belts, which enhance the production workflow and minimise waste. For the fiscal year 2024, Wakefit reported a revenue from operations of ₹ 986.3 crore, along with ₹ 971 crore for the nine-month period ending December 31, 2024. As outlined in the DRHP, the upcoming IPO of the Bengaluru-based firm consists of a fresh issuance of equity shares totaling up to ₹ 468.2 crore, along with an offer for sale (OFS) of 5,83,99,085 equity shares (5.83 crore shares) by the current shareholders. Wakefit intends to allocate the proceeds from the Fresh Issue towards financing capital expenditures of ₹ 82 crores to establish 117 new COCO – Regular Stores and one COCO – Jumbo Store; ₹ 15.4 crores for capital expenditures related to acquiring new equipment and machinery; ₹ 145 crores for costs associated with lease, sub-lease rent, and license fees for existing stores; ₹ 108.4 crores for marketing and advertising expenses aimed at increasing brand awareness and visibility, while the remaining funds will be directed towards general corporate purposes. The Book Running Lead Managers for this issuance include Axis Capital Limited, IIFL Capital Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
01-05-2025
- Business
- Mint
IPO Watch: Jinkushal Industries files draft papers with SEBI for IPO
IPO Watch: Jinkushal Industries Ltd has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Jinkushal Industries specializes in the global export of both new/customized and used/refurbished construction machinery. The company focuses on trading construction equipment such as hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers. According to the CareEdge Report, Jinkushal Industries holds the position of the largest Non-OEM exporter of construction machines, boasting a market share of 6.9%. The firm is promoted by Mr. Anil Kumar Jain, Mr. Abhinav Jain, Ms. Sandhya Jain, Ms. Tithi Jain, and Ms. Yashasvi Jain. Jinkushal Industries has a steady history of financial success, which has resulted in a robust balance sheet. The company has shown impressive financial outcomes, attaining a compound annual growth rate (CAGR) of 56.7% in revenue. Jinkushal Industries' Return on Equity (ROE) is 42.18%, indicating its proficiency in leveraging capital investments to foster sustainable growth. The firm focuses on refurbishment, reuse, and supporting the circular economy while maintaining environmental responsibility. It enjoys a varied market presence and provides optimized machine solutions. The company has established an effective supply chain infrastructure that bolsters its primary business in the export trade of construction machinery. The public offer consists of an issuance of 96.5 lakh equity shares with a face value of Rs. 10 each; this includes a new issue of up to 86.5 lakh equity shares and a sell-off of up to 10 lakh equity shares. Jinkushal Industries intends to use the funds raised from the Fresh Issue to support its Working Capital Requirements and for General Corporate Purposes. GYR Capital Advisors Private Limited serves as the sole Book Running Lead Manager (BRLM) for the planned IPO. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 1 May 2025, 05:19 PM IST
