TT&A, Trilegal, S&R Associates, CMS IndusLaw, and Hogan Lovells counselled parties involved in the proposed INR4.7 billion (USD54.92 million) initial public offering (IPO) of home furnishings company Wakefit Innovations.
In addition to the IPO, the company’s promoters and shareholders are offering up to 58,399,085 shares for sale.
TT&A advised the bookrunning lead managers — Axis Capital, IIFL Capital Services (formerly known as IIFL Securities), and Nomura Financial Advisory and Securities (India) — on filing of the draft red herring prospectus for the IPO. Hogan Lovells served as international legal counsel.
TT&A partner Abhinav Kumar led the team, with the assistance of managing associate Shubham Sancheti, senior associate Ayana Banerjee, as well as associates Dhruvi Shah, Keshav Yadav and Soham Vakil.
Trilegal counselled Wakefit and a group of selling shareholders, including Ankit Garg, Chaitanya Ramalingegowda, Nitika Goel, SAI Global India Fund I, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund, and Paramark KB Fund I. S&R Associates advised Peak XV Partners Investments VI, Redwood Trust and Verlinvest.
Hogan Lovells acted as international legal counsel to the bookrunning lead managers. The firm’s capital markets team was led by Biswajit Chatterjee, head of the India practice and Dubai office managing partner, with support from counsel Kaustubh George and Varun Jetly; senior associates Suchisubhra Sarkar and Aditya Rajput; associates Aditya Dsouza, Sanjana Ravjiani, Komal Israni and Purva Mishra.
CMS IndusLaw advised Elevation Capital VIII in its capacity as a shareholder with a nominee director.
Wakefit Innovations is the largest and fastest-growing direct-to-consumer home furnishings company in India based on revenue from operations in fiscal 2024.
Within just over nine years of operations, the company has emerged as the fastest homegrown brand among peers in 含羞草社区 home and furnishings sector with total income of INR 10 billion. The company has major institutional investors on its books, including Peak XV Partners VI, Investcorp Growth Equity Fund, Investcorp Growth Opportunity Fund, SAI Global India Fund I, Elevation Capital VIII, and Verlinvest, some of which are also participating in the share sale.
IPO proceeds will fund the setting up of retail stores, purchasing equipment and machinery, as well as marketing and advertising.
