Talwar Thakore & Associates (TT&A) has acted as legal counsel to the book running lead managers (BRLMs) — Axis Capital Ltd., IIFL Capital Services Limited (formerly IIFL Securities Limited) and Nomura Financial Advisory and Securities (India) Private Limited — for the filing of the Draft Red Herring Prospectus (DRHP) for Wakefit Innovations Limited’s proposed initial public offering (IPO).
About Wakefit Innovations
Founded in 2016, Wakefit Innovations Limited is one of India’s leading direct-to-consumer (D2C) home and sleep solutions brands. The company has built a loyal consumer base across mattresses, furniture, and home décor, and is widely recognized for its strong online sales channels alongside an expanding offline retail footprint.
Wakefit’s IPO aims to capitalise on India’s growing demand for branded, affordable home products and the rapid shift towards organised retail in the sleep and furniture category.
Also Read: Shardul Amarchand Mangaldas Advises on MakeMyTrip’s Landmark USD 3.1 Billion Equity
IPO Structure
The draft prospectus outlines a combined offer of:
Fresh Issue: Equity shares aggregating up to ₹4,682.21 million (~₹468.2 crore)
Offer for Sale (OFS): Up to 58,399,085 equity shares by the Promoters and certain existing shareholders
The OFS component will allow founders and early backers to partially exit or unlock value, while the fresh issue will provide growth capital for brand expansion, supply chain investment, and marketing.
Book Running Lead Managers’ Counsel
TT&A represented Axis Capital, IIFL Capital Services, and Nomura, who together are the appointed BRLMs for the IPO. These firms will jointly handle investor outreach, roadshows, offer pricing, book building, and allocation.
TT&A’s role included:
Conducting Indian law due diligence
Reviewing the draft prospectus from the BRLMs’ compliance perspective
Advising on SEBI regulatory processes and disclosures
TT&A Deal Team
The TT&A team advising the book runners comprised:
Abhinav Kumar – Partner
Shubham Sancheti – Managing Associate
Ayana Banerjee – Senior Associate
Dhruvi Shah – Associate
Keshav Yadav – Associate
Soham Vakil – Associate
No other law firms have been reported as acting for Wakefit Innovations (issuer counsel) or for selling shareholders at this stage.
Key Deal Snapshot
| Feature | Details |
|---|---|
| Issuer | Wakefit Innovations Limited |
| IPO Size (Fresh Issue) | Up to ₹4,682.21 million (~₹468.2 crore) |
| Offer for Sale (OFS) | Up to 58,399,085 equity shares |
| Book Running Lead Managers | Axis Capital, IIFL Capital Services, Nomura |
| Legal Counsel to BRLMs | Talwar Thakore & Associates |
| Sector | Direct-to-Consumer (D2C), Retail, Home Solutions |
Deal Impact & Sector Outlook
Boost for India’s D2C Retail
Wakefit’s listing will be a milestone for India’s new-age D2C sector, demonstrating investor appetite for branded consumer goods companies built primarily online and then scaled offline.
Strategic Capital for Growth
Proceeds from the fresh issue are expected to fund retail expansion, manufacturing capabilities, and marketing campaigns as Wakefit competes with both traditional furniture brands and new D2C entrants.
Promoter & Investor Exit Path
The significant OFS indicates that promoters and early venture backers are keen to partially monetise their investment, while retaining substantial ownership for future growth.
TT&A’s Capital Markets Strength
This mandate highlights Talwar Thakore & Associates’ expertise in handling large IPOs, especially on the lead manager side — ensuring that investor-facing disclosures and regulatory requirements are robust and compliant.
Also read: Khaitan & Co Advises TVS Capital on INR 475 Crore Series A Investment in Saarathi Finance
For more legal deal updates and analysis, stay tuned to TheCourtroom.in
Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
