Sham Foam IPO

Sham Foam IPO closed on 13 Aug 2026. Allotment 14 Aug 2026, listing 18 Aug 2026. Price band ₹130–₹130, lot 1000 shares, GMP +₹0 (0%). Track allotment on Allotly.

About Sham Foam

Sham Foam Limited is primarily engaged in the business of manufacturing, distribution, marketing, and selling of polyurethane (PU) foam, mattresses, and other allied home comfort products targeted mainly at Indian consumers. The company also manufactures industrial grades of PU foam used in a wide range of industries. Its diversified product portfolio includes mattresses, pillows, and furniture cushions under the brands ‘Featherfresh’ and ‘Restivia’. The company, which specializes in customized PU foam and mattresses, operates a vertically integrated business model, controlling operations from product design and engineering to manufacturing and distribution. A significant portion of its revenue is derived from the sale of PU foam. The company owns and operates a manufacturing facility in Haryana, which is accredited with ISO 9001:2015 and BIS certifications for its quality management…

Strengths

• The company operates an accredited in-house manufacturing facility in Haryana.
• The vertically integrated model covers design, production, and distribution.
• The business delivered a strong 51.53% Return on Equity in FY26.
• The distribution network spans 13 states with over 1,300 dealers.
• Long-term debt was aggressively reduced to a 0.19x debt-to-equity ratio

Risks

• Ongoing legal proceedings include a ₹536.42 Lakh dispute with Sheela Foam.
• Raw material costs are highly volatile and exceed 78% of revenue.
• All production is concentrated at a single facility in Haryana.
• The primary manufacturing facility is located on leased premises.
• High trade receivable days of 93 days strain working capital.

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