Description

BSE circular detailing the listing and lock-in arrangements for 32,68,28,675 equity shares of Wakefit Innovations Limited following its IPO.

Summary

BSE has listed equity shares of Wakefit Innovations Limited (formerly Wakefit Innovations Private Limited) with a total of 32,68,28,675 fully paid-up equity shares. The circular provides comprehensive lock-in details for different categories of shareholders including anchor investors, promoters, AIFs, ESOP holders, and public investors.

Key Points

  • Total equity shares listed: 32,68,28,675 shares
  • Company registered office: Umiya Emporium, 97-99, 2nd and 4th Floor, Adugodi, Bengaluru 560029
  • CIN: U25909KA2016PLC086582
  • All shares are in dematerialized form
  • Multiple lock-in periods ranging from 30 days to 18 months for different shareholder categories
  • Anchor investor shares: 2,97,43,590 shares with 30-day and 90-day lock-ins
  • IPO public shares: 1,98,03,133 shares (no lock-in)
  • AIF Category I shares: 2,90,36,832 shares (no lock-in for certain AIFs)
  • ESOP shares: 5,136 shares held by eligible employees (no lock-in)
  • Promoter and pre-IPO investor shares under varying lock-in periods

Lock-in Categories and Periods

Anchor Investors:

  • 1,48,71,795 shares locked-in for 30 days (until January 9, 2026)
  • 1,48,71,795 shares locked-in for 90 days (until March 10, 2026)

IPO Public Allottees:

  • 1,98,03,133 shares with no lock-in
  • 1,65,50,143 shares with no lock-in

AIF Category I:

  • 2,90,36,832 shares with no lock-in for certain AIFs
  • Some AIF shares under 6-month lock-in (until June 11, 2026)

ESOP Holders:

  • 5,136 shares with no lock-in

Other Investors:

  • Various tranches with 1-month, 3-month, 6-month, and 18-month lock-ins
  • Longest lock-in period: until June 11, 2027 (18 months)
  • 40,02,884 shares locked until June 2, 2026
  • 1,40,66,176 shares locked until June 11, 2026
  • Multiple other tranches with different lock-in expiry dates

Regulatory Framework

  • Lock-in provisions governed by SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 17(c)
  • AIF exemptions as per Regulation 17(c) for shares held as on date of Prospectus (December 10, 2025)
  • ESOP exemptions for shares allotted to eligible employees as on Prospectus date

Important Dates

  • Prospectus Date: December 10, 2025
  • Listing Date: December 11, 2025
  • 30-day Lock-in Expiry: January 9, 2026
  • 90-day Lock-in Expiry: March 10, 2026
  • 6-month Lock-in Expiry (AIF): June 2, 2026
  • 6-month Lock-in Expiry (Various): June 11, 2026
  • 18-month Lock-in Expiry: June 11, 2027

Compliance Requirements

  • All shares are required to be held in dematerialized form
  • Shareholders subject to lock-in restrictions must comply with the respective lock-in periods
  • Transfer or sale of locked-in shares is prohibited during the lock-in period
  • Detailed annexures (Annexure 1 and 2) contain specific shareholder-wise lock-in details for AIFs and ESOP holders

Impact Assessment

Market Impact:

  • New listing adds liquidity to the BSE platform in the home furnishing/mattress sector
  • Staggered lock-in expiry dates will phase the release of shares into the market, reducing potential supply shocks
  • Significant portion of shares (approximately 50%) are under various lock-in periods, limiting immediate tradable float

Investor Impact:

  • Public investors and certain AIF investors have immediate trading flexibility
  • Anchor investors face short-term restrictions (30-90 days)
  • Long-term investors (promoters/early investors) locked in for up to 18 months ensures management commitment
  • ESOP holders with no lock-in can realize value immediately

Company Impact:

  • Successful IPO listing establishes public market presence
  • Lock-in structure demonstrates promoter confidence and long-term commitment
  • Access to capital markets for future fundraising opportunities

Impact Justification

New equity listing with detailed lock-in schedules affecting various investor categories including anchor investors, AIFs, and promoters