Wakefit IPO 30% Subscribed on Day 2; Retail Leads, GMP at 3%

• Wakefit IPO subscribed 30% on Day 2, with retail investors leading at 1.36 times subscription.
• The Rs 1,289-crore IPO received bids for 1.03 crore shares against 3.63 crore on offer.
• The company plans to use IPO proceeds for new stores, equipment, lease payments, and marketing.
• Wakefit, incorporated in 2016, is a fast-growing home and furnishings company with over Rs 1,000 crore income by March 2024.
• Shares are commanding a Grey Market Premium (GMP) of around 3%; allotment is expected by December 11, and listing by December 15.

Why It Matters: Wakefit IPO's subscription and GMP data guide potential investment choices.