India’s omnichannel furniture and mattress brand Wakefit.co has taken a major step toward going public by converting itself into a public entity, now renamed Wakefit Innovations Limited, dropping “Private” from its registered name. This move comes on the heels of the company’s return to EBITDA profitability in FY24 and is a clear signal of its ambitions to list on the stock market.
As per recent filings with the Registrar of Companies, Wakefit.co has officially updated its corporate status, aligning its legal structure with IPO requirements. “The Company intends to list its equity shares (the ‘Equity Shares’) on one or more stock exchanges to enable the shareholders to have a formal marketplace for dealing with the Company’s Equity Shares,” the filing states.
To strengthen its corporate governance, the Bengaluru-based brand has inducted several seasoned professionals as independent directors, including Sudeep Nagar, Sandhya Pottigari, Aridam Paul, Gunender Kapur, and Alok Chandra Misra.
This strategic move places Wakefit.co alongside a growing group of Indian startups that are actively dropping “private” from their names in preparation for IPOs. Others who have recently done so include fast-delivery platform Zepto, SaaS firm Amagi, and fintech majors PhonePe and Razorpay.
Co-founder and CEO Ankit Garg had earlier shared with a media publication that the company was targeting PAT profitability by the end of FY25. Wakefit.co recorded a 24 percent increase in revenue, reaching Rs 1,017 crore in FY24, alongside an EBITDA of Rs 65 crore. The company also projects continued double-digit growth in FY25, underscoring its robust business momentum.
Meanwhile, Wakefit’s competitors are also gearing up for expansion. Furniture retailer Pepperfry recently secured Rs 43.3 crore in funding, while The Sleep Company is reportedly finalizing a $50 million raise from a leading investment firm.
Wakefit.co’s transformation signals a new era in India’s furniture retail space, where tech-driven models meet financial resilience. The company’s path to public listing could potentially reshape how modern India shops for comfort and style.
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