Wakefit IPO opens: GMP up, but analysts urge caution

Wakefit's ₹1,289 crore IPO opened today with a price band of ₹185-₹195. The grey market premium at ₹36 suggests an 18% listing gain, though analysts warn against relying on GMP. Brokerage Swastika has given the issue an 'Avoid' rating due to losses, low margins and high valuations. Allotment is on Dec 11; listing on Dec 15.