IPO GMP Today: Wakefit IPO Subscribed 43% So Far On Last Day Of Subscription; Should You Bid?

IPO GMP Today: Wakefit Innovations' initial public offering was subscribed over 0.43x so far on the last day of its subscription, ie Wednesday, December 10. The IPO is receiving a strong response from the retail investors as well as anchor investors.

Wakefit IPO GMP Today (Grey market premium) remained stable as the IPO will close for subscription today. For investors who are tracking the IPO, here are all the details about the Wakefit IPO.

Wakefit IPO Subscription Details

Wakefit IPO was subscribed 0.43 times till day 3, ie December 10, on Wednesday. The IPO has been subscribed over 1.95 times in the retail category, 0.28 times in the NII category, and 1x in the anchor category. However, there was no subscription in the QIB (ex-anchor) category, as per chittorgarh.com.

Wakefit IPO GMP Today

The IPO GMP today stood at Rs 2, as per investorgain.com. Hence its estimated listing price stood at Rs 197 per share (which is the sum of upper price band and IPO GMP).The company's IPO GMP saw a sharp decline over the past few days. Its IPO GMP shot to Rs 36 on 2 December, as quoted by the website. Few days later, Wakefit IPO GMP saw a massive decline to Rs 5 on 8 December, ie the first day of subscription.

Investors must note that an IPO GMP is not an accurate indication of its performance and listing day gain. It indicates the demand of the IPO in the unregulated market.

Wakefit IPO Price Band, Other Details

The company has fixed the upper price band at Rs 185 to Rs 195 per share. Whereas, the lot size for an application is 76. The minimum amount of investment required by a retail is Rs 14,820. Whereas, the lot size investment for sNII is 14 lots, equivalent to Rs 2,07,480, and for bNII, it is 68 lots, equivalent to Rs 10,07,760.

Wakefit IPO: Should You Subscribe?

The company is a leading D2C home and furnishings company offering a wide range of products, including mattresses, furniture, furnishings, etc. The one-stop D2C home and furnishings solutions provider had initially started its business with selling mattresses.The company has fixed an upper price band of Rs 195, and its calculated valuation is expected to be slightly overvalued compared to its peers, stated SBI Securities in its report.

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