Sham Foam Ltd. made a weak debut on the stock market on Tuesday, listing at a discount of 20% to its IPO price. The stock opened at Rs 104 on the BSE which is a decline from the IPO price of Rs 130. Sham Foam Ltd.'s SME IPO was open from Aug. 11 to Aug. 13, 2026. The company fixed the issue price at Rs 130 per share, with an issue size of Rs 40.48 crore.The Rs 40.48 crore initial public offering of Sham Foam Ltd opened for subscription on Tuesday, receiving bids for 2% of the total offer size on the first day. The IPO, which comprises a fresh issue of 31.14 lakh shares, received bids for 57,000 shares on the BSE SME platform, exchange data showed.The offer has been priced at Rs 130 per share and closes for subscription on Thursday, August 13. The company has proposed to utilise IPO proceeds towards civil construction and purchase of machinery and equipment, partially financing working capital requirements and meeting general corporate purposes.ALSO READ: Parag Parikh Flexi Cap's Rajeev Thakkar Explains 'Underperformance' And Says Cash Levels Are DownThe company's total revenue stood at Rs 92.39 crore in FY26, up from Rs 81.62 crore in FY25, while PAT increased to Rs 8.65 crore from Rs 3.58 crore. Corporate Makers Capital Ltd and Navigant Corporate Advisors are book-running lead managers for the issue.Sham Foam is engaged in manufacturing, distribution, marketing and sale of polyurethane foam (PU foam), mattresses and related home comfort products.ALSO READ: Milky Mist Makes Strong Market Debut; Shares List At 17.8% Premium To Issue Price(With inputs from PTI)