Sheela Foam IPO
Incorporated in 1971, Sheela Foam is a leading manufacturer of mattresses and polyurethane (PU) Foam in India. The company sells mattresses under the “Sleepwell” brand while it also manufactures other foam-based home comfort products targeted primarily at Indian retail consumers, as well as technical grades of PU Foam for a wide range of industries.
As part of its home comfort range, Sheela Foam offers various products such as mattresses, furniture-cushioning, pillows, cushions, sofa-cum-beds, pillows, bolsters and cushions, sofa-cum-beds and comfort accessories like bed sheets, baby care sheets and mattress protectors. In FY2016, the home comfort business generated INR1,016.5 crore in revenues, constituting 65.6% of the company’s top line.
The company also manufactures and sells technical grade foam to a diverse range of industries, including automotive foam used to manufacture auto parts; reticulated foams utilised in filtration systems; ultra-violet stable foams used for the manufacture of garments, shoes and innerwear; and technical foams that are used in industrial sound absorption systems. Through its Australian business, it also makes PU Foam that is supplied to manufacturers of comfort products and home furniture and industrial PU Foams supplied to manufacturers of auto components, sound absorption systems, medical equipment and food packaging material. In FY2016, revenues from technical and PU foam business stood at INR533.5 crore, or 34.42% of the company’s annual revenue.
Sheela Foam currently owns and operates 11 manufacturing facilities in India. All of its facilities are utilized for manufacturing home comfort products, while five of these facilities also manufacture PU Foam. Three of its facilities located in Greater Noida, Talwada and Hyderabad are ISO:9001 certified. In addition, its fully owned subsidiary Joyce operates five manufacturing facilities in Australia that make PU Foam.
Promoter of Sheela Foam: Sheela Gautam, Rahul Gautam, Polyflex Marketing Pvt. Ltd.
| Sheela Foam IPO details | |
| Subscription Dates | 29 Nov – 1 Dec 2016 |
| Price Band | INR680 – 730 per share |
| Fresh issue | Nil |
| Offer For Sale | INR510 crore |
| Total IPO size | INR510 crore |
| Minimum bid (lot size) | 20 shares |
| Face Value | INR5 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
| Sheela Foam’s consolidated financial performance (in INR crore) | |||||
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | |
| Total revenue | 1,050.8 | 1,161.4 | 1,271.6 | 1,428.2 | 1,566.8 |
| Total expenses | 1,038.8 | 1,121.8 | 1,235.5 | 1,370.7 | 1,414.8 |
| Profit after tax | 7.7 | 30.8 | 27.8 | 42.7 | 104.8 |
Sheela Foam Ltd
37/2, Site IV, Sahibabad Industrial Area,
Ghaziabad 201010, Uttar Pradesh
Phone: +91 120 4162 200
Fax: +91 120 4162 282
Email: [email protected]
Website: www.sheelafoam.com
Link Intime India Private Limited
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai – 400 078
Maharashtra, India
Phone: +91 22 2596 3838
Fax: +91 22 2594 6969
Email: [email protected]
Website: http://www.linkintime.co.in
Sheela Foam IPO Subscription Details
| Category | Shares offered | Subscription (no. of times, at 7 PM) | ||
| Day 1 | Day 2 | Day 3 | ||
| QIB | 1,500,001 | 0.00 | 0.09 | 14.51 |
| NII | 1,125,000 | 0.00 | 0.01 | 3.53 |
| Retail | 2,625,000 | 0.02 | 0.06 | 0.40 |
| Total | 5,250,001 | 0.01 | 0.06 | 5.06 |
Sheela Foam IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
You can also check your IPO allotment status from your mobile at
http://linkintime.co.in/ipo
IPO Opening Date: 29 November 2016
IPO Closing Date: 1 December 2016
Finalisation of Basis of Allotment: 6 December 2016
Initiation of refunds: 7 December 2016
Transfer of shares to demat accounts: 8 December 2016
Listing Date: 9 December 2016
Listing Price on NSE: INR860 per share (profit of 17.8% over IPO price)
Closing Price on NSE: INR1,032 per share (profit of 41.4% over IPO price)
Not to subscibe at all at these price.
the fair value is apprx 200 at highest…
Sanket, wonder how you arrived on 200. Your fair value is too good to be true. I’ll buy truck loads if this price.
what is listing prize