Sheela Foam zooms 41 pc on debut

Shares of Sheela Foam, maker of Sleepwell mattresses, today got listed at Rs 860 on BSE, with a premium of nearly 18 per cent over its issue price of Rs 730.
Within minutes of listing, the shares breached its upper circuit limit and touched an early high of Rs 1,032, registering a jump of 41 per cent over its issue price.
On NSE, the stock got listed at Rs 860 and then surged to its upper circuit limit of Rs 1,032, registering a jump of 41 per cent over its issue price.
The Rs 510-crore initial public offer of Sheela Foam got subscribed five times. The company had raised around Rs 153 crore by allotting shares to anchor investors.

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.