Wakefit co-founders receive shares before IPO, Elevation ups stake via secondary deal

Wakefit co-founders Ankit Garg and Chaitanya Ramalingegowda were allotted 2.6 million equity shares through a rights issue ahead of the company’s public listing, as per its Draft Red Herring Prospectus (DRHP).

In a parallel development, existing investor Elevation Capital has acquired 2.03 lakh shares from Wakefit employees through secondary transactions since 2025. The shares were bought at Rs 1,600 apiece, valuing the…