IPO Watch, June 27 -- Wakefit Innovations Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

Wakefit, founded in 2016, has emerged as the fastest-growing indigenous brand in India's home and furnishings sector among organised competitors, reaching a total income of over Rs.1,000 crores by March 31, 2024.

The company offers an extensive array of mattresses, furniture, and home accessories, which it markets through its own platforms (including its website and COCO - Stores) as well as through external channels (like prominent e-commerce sites and multi-brand retailers).

Wakefit operates five manufacturing plants,...