Monitoring Agency Report for the quarter ended March 31, 2026.
WAKEFIT · price
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Wakefit Innovations submitted its Q4FY26 monitoring report for two fundraisings: a Pre-IPO placement of Rs. 56 crore (Nov 2025) and an IPO of Rs. 377.178 crore (Dec 2025). For the Pre-IPO, no funds were deployed during the quarter; the entire amount remains in Axis Bank fixed deposits as the company used internal accruals for general corporate purposes and will seek reimbursement later. For the IPO, only Rs. 10.205 crore (2.7%) was utilized out of Rs. 377.178 crore. The major uses were Rs. 4.60 crore for lease/rent of existing COCO stores and Rs. 5.605 crore for issue expenses. The remaining Rs. 366.973 crore is largely parked in fixed deposits across HDFC Bank (majority), Yes Bank, and Axis Bank, earning interest at 4.25-7.00% rates. CARE Ratings noted that lease/rent payments for existing stores were not fully deployed in FY26 as originally planned, though no material deviations exceeding 10% were flagged.
The extremely low utilization rate (2.7%) suggests the company is taking a phased approach to deployment, keeping IPO proceeds safely in fixed deposits while awaiting the right time for store expansion and marketing spend. Shareholders should note that expansion plans (117 new COCO stores, marketing spend) are yet to begin, and the lease/rent utilization was below the FY26 target.