TT&A, Trilegal, S&R Associates and Hogan Lovells (Middle East) acted on the IPO of Wakefit Innovations, involving a fresh issue of equity shares totalling about INR3.77 billion (USD41.9 million), along with an offer for sale by the promoters and certain existing shareholders.
TT&A advised book running lead managers Axis Capital, IIFL Capital Services (formerly IIFL Securities), and Nomura Financial Advisory and Securities (India) on the IPO.
The transaction comprised a fresh issue of equity shares and an offer for sale of 46.75 million equity shares by the promoters and select existing shareholders.
The TT&A team was led by partner Abhinav Kumar, with support from managing associate Shubham Sancheti, senior associate Ayana Banerjee, and associates Dhruvi Shah, Keshav Yadav and Soham Vakil.
Trilegal acted as legal counsel to Wakefit Innovations and advised certain selling shareholders including Ankit Garg, Chaitanya Ramalingegowda, Nitika Goel, SAI Global India Fund I, LLP, and Paramark KB Fund I.
S&R represented other selling shareholders, namely Peak XV Partners Investments VI, Redwood Trust, and Verlinvest SA. Hogan Lovells (Middle East) acted as international legal counsel to the book-running lead managers.
Additionally, Shardul Amarchand Mangaldas & Co advised Steadview Capital Mauritius on its pre-IPO secondary acquisition of equity shares in Wakefit Innovations from Verlinvest SA.
Wakefit Innovations is an Indian home and furnishings company offering a range of products including mattresses, furniture and furnishings, through an omnichannel retail platform.
