India, June 9 -- Bengaluru-based D2C furniture and mattress startup Wakefit has converted into a public company as readies for an initial public offering (IPO).

As per the startup's MCA filing accessed by Inc42, shareholders of Wakefit have passed a resolution to change its name 'Wakefit Innovations Limited' from 'Wakefit Innovations Private Limited' in their extraordinary general meeting on June 5.

Wakefit has reportedly picked three investment bankers - Axis Capital, IIFL Capital Services and Nomura - for the IPO and aims to raise around INR 1,500-2,000 Cr (around $173-231 Mn).

The startup has also appointed five independent directors - Arindam Paul, Alok Chandra Misra, Sandhya Pottigari, Gunender Kapur and Sudeep Nagar. Wakefit has ...