India, Dec. 13 -- The cofounders and early investors of D2C mattress and furniture brand Wakefit, which is set to list on the exchanges on Monday (December 15), have raked in hefty returns via the IPO.

The company had set a price band of INR 185-195 for its public issue, which comprised a fresh issue of shares up to INR 377.2 Cr and an offer for sale (OFS) of up to 4.68 Cr equity shares.

Peak XV Partners emerged as the biggest gainer among institutional investors. The VC firm offloaded 2.04 Cr shares via the OFS, earning INR 397.3 Cr at the upper end of the IPO price band. This translated into a 9.5X return on its investment. Post the stake sale, Peak XV owns 4.98 Cr shares in the company, valued at INR 971.5 Cr at INR 195 apiece.

Verl...