Sheela Foam Makes Blockbuster Debut, Surges 40% On Listing
Shares of mattresses manufacturer Sheela Foams made a blockbuster debut on exchanges on Friday. Its shares surged as much as 41.36 per cent to an intraday high of Rs 1,032 compared to its issue price of Rs 730.
The initial public offer (IPO) of Sheela Foam, which manufactures "Sleepwell" brand of mattresses, was subscribed over 5 times on the back of strong interest from the qualified institutional buyers (QIBs) segment, which was subscribed 14.5 times.The IPO received total bids for 26.7 million shares compared to 5.25 million shares on offer.
The public issue comprises equity shares aggregating up to Rs. 510 crore.
Sheela Foam had last month raised around Rs. 153 crore by allotting shares to anchor investors. Edelweiss Financial Services and ICICI Securities were the book running lead managers to the issue.
Sheela Foam manufactures foam-based home comfort products like mattresses, furniture-cushioning, pillows, cushions and sofa-cum-beds.
Sheela Foams shares closed 41.36 per cent higher at Rs 1,032.
Â
-
One El Nino, India Can Handle. Two Could Break The Granary
India's grain stocks can absorb one bad year, but a second El Nino could drain the buffer in two to three years, economists say.
-
India's Troika Of Good Luck | Joining The Dots
As Jensen Huang's exit drags Nvidia down, a cooling AI trade and resilient earnings have revived investor interest in India. A likely RBI rate hike looms.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
