India, June 28 -- VC firm Elevation Capital purchased more than 2.03 Lakh shares of IPO-bound portfolio startup Wakefit from the D2C brand's employees via secondary transactions in 2025, ahead of it filing its DRHP.

As per Wakefit's DRHP, the 2,03,426 shares were acquired at INR 1,600 each, translating into a total sum of INR 32.54 Cr.

The draft IPO documents also revealed that the VC firm bought more than 10.14 Lakh shares from cofounders, Ankit Garg and Chaitanya Ramalingegowda, and other former (including former CTO Kumar Gaurav) and current employees during the course of 2023. The shares were acquired at INR 1,152.86 each for a total consideration of nearly INR 117 Cr.

Meanwhile, the DRHP also revealed that the D2C brand allotted m...