Home mattress manufacturer Sheel Form's share price went up by 8.3 per cent after the company acquired Kurlon Enterprise, the manufacturer of Kurl-on mattresses. The company also gained a controlling stake in the furniture rental company Furlenco.
The acquisition involves Sheela Foam acquiring a 94.66 per cent stake in Kurlon Enterprise at a valuation of ₹2,150 crore. Additionally, the company will invest ₹300 crore to purchase a 35 per cent stake in Furlenco. The share price of Sheela Foam went up by 8.3 per cent to ₹1,283 at 10:41 a.m. on BSE.