Wakefit raises Rs 580 cr from anchor investors ahead of IPO

• Wakefit Innovations Ltd raised Rs 580 crore from anchor investors, including HDFC Life, Bajaj Life, and various mutual funds, ahead of its IPO.
• The Rs 1,289 crore IPO will open for subscription from December 8-10, with a price band of Rs 185-195 per share.
• The IPO comprises a fresh issue of Rs 377.18 crore and an Offer for Sale (OFS) of Rs 912 crore.
• Proceeds from the fresh issue will fund 117 new stores, equipment, lease payments, and marketing expenses.
• Wakefit, a home and furnishings company founded in 2016, will make its stock market debut on December 15.

Why It Matters: Wakefit's IPO anchor investor funding shows market confidence and growth potential.