<ul><li>Bengaluru-based D2C furniture and mattress startup Wakefit has converted into a public company in preparation for an IPO.</li><li>Wakefit aims to raise around INR 1,500-2,000 Cr through the IPO and has appointed three investment bankers for the process.</li><li>The startup has also appointed five independent directors and plans to submit its draft papers for the IPO in the upcoming months.</li><li>In the financial year ending March 31, 2024, Wakefit reduced its net loss by 90% and reported a rise in revenues, with plans to provide some early backers an exit.</li></ul>

Wakefit Converts Into Public Entity In Run-Up To IPO

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