Shares of Sheela Foam, maker of Sleepwell mattresses, today got listed at Rs 860 on the 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 the 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 foam0based home comfort products like mattresses, furniture0cushioning, 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.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.