Sheela Foam, which makes mattresses under Sleepwell brand, will launch its initial public offer this week to raise Rs 510 crore. Sheela Foam had filed draft papers with Sebi in July and received the market regulator's approval earlier this month. The company has fixed the price band at Rs 680-730 for the offer, which will remain open to bidding from November 29-December 1. Edelweiss Financial Services and ICICI Securities are the book running lead managers to the issue. So far this year, 25 companies have launched their initial public offerings. The IPO of vaccine manufacturing firm GreenSignal was withdrawn last week following poor response from institutional investors. Sheela Foam also manufactures foam-based home comfort products like mattresses, furniture-cushioning, pillows, cushions and sofa-cum-beds. The company, which has 12 manufacturing facilities, developed a pan-India distribution network consisting of over 100 exclusive distributors, more than 2,000 exclusive retail dealers and over 2,500 multi-brand outlets.
The firm exports its products to 25 countries.