Sheela Foam IPO off to a slow start

Makers of Sleepwell mattresses Sheela Foam garnered only one per cent subscription for its Rs 510-crore IPO on Tuesday, the first day of the issue. The company on Monday raised Rs 153 crore from anchor investors, which included ICICI Prudential MF, SBI MF and Goldman Sachs. Shares were allotted to anchor investors at Rs 730 per share, the upper end of the IPO price band of Rs 680-730. Sheela Foam's IPO closes on December 1. Edelweiss Financial Services and ICICI Securities are the book running lead managers to the issue.