Sheela Foam planning Rs 500 cr IPO


Sheela Foam planning Rs 500 cr IPO
13/06/2016 12:38

Sheela Foam Pvt. Ltd., India's leading manufacturer of Polyurethane foam and an ISO 9001 certified company, is planning to raise Rs 500 crore via an initial public offering (IPO) by March. Sheela Foam is looking to file the IPO documents with Sebi by the next quarter, and the company might look to launch the IPO before March 2017. Edelweiss Financial Services Ltd and ICICI Securities Ltd will manage the process and work has been initiated on the IPO, said one of the two people cited above. Sheela Group is a multi-billion rupee entity and a leader in Polyurethane (PU) Foam. It leads with more than 35 per cent market share in the Flexible PU Foam market in India as well as Australia.