Sheela Foam to make debut on stock market tomorrow

Sleepwell mattresses maker Sheela Foam, which recently concluded its Rs 510 crore initial public offering, is all set to make its debut on bourses tomorrow.
The IPO, which opened for public subscription from November 29 to December 1, was subscribed 5.09 times at a price band at Rs 680-730 per scrip.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 14.51 times, while non-institutional investors quota received 3.35 times subscription. The quota for retail investors was oversubscribed 44 per cent.
"Effective from Friday, December 9, 2016, the equity shares of Sheela Foam Ltd shall be listed and admitted to dealings on the exchange in the list of 'B' Group of Securities," the BSE said in a circular.

The public issue comprises equity shares aggregating up to Rs 510 crore.
Sheela Foam last month had raised around Rs 153 crore by allotting shares to anchor investors.

Edelweiss Financial Services and ICICI Securities were the book running lead managers to the issue.
Sheela Foam 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.