📰 Wakefit Innovations Shares Rebound Over 10% From Lows After Flat Market Debut
Shares of Wakefit Innovations staged a sharp recovery on Monday, rebounding over 10% from intraday lows after a muted listing on the stock exchanges. The stock slipped to a low of ₹177.25 before bouncing back strongly. By around 2 PM, it was trading at ₹195.81, marginally higher compared to its issue price. Wakefit’s market capitalisation stood at ₹6,146 crore. Listing Performance Issue Price: ₹195 BSE Listing: ₹194.10 (down 0.46%), later fell 9.1% to ₹177.25 NSE Listing: Flat at ₹195 IPO Snapshot IPO Size: ₹1,289 crore Subscription: Over 2x on final day Fresh Issue: ₹377.18 crore Offer for Sale: ₹912 crore Use of IPO Proceeds Funds from the fresh issue will be utilised for: Setting up 117 new COCO-Regular stores Purchase of equipment and machinery Store lease and licence payments Marketing and advertising General corporate purposes Despite a subdued debut, the sharp intraday recovery signals selective investor confidence in the home and furnishing major. #WakefitIPO #StockMarketNews #IPOListing #IndianStocks #EquityMarkets #MarketDebut #IPOUpdate