Mattress manufacturing firm Sheela Foam on Monday raised Rs 153 crore by allotting 20.95 lakh shares to anchor investors at a price of Rs 730 apiece. Among the investors who were allotted shares in the pre-IPO placement include ICICI Prudential FMCG Fund, SBI FMCG Fund, Goldman Sachs India, IDFC Equity Fund, L&T Mutual Fund Trustee and Kotak Midcap, among others.
The company priced its initial public offering (IPO), aimed at raising Rs 510 crore, in a price band of Rs 680-730 per share. The issue is a pure offer for sale by Polyflex Marketing Private which holds 27.75% stake in the company. Bid can be made for a minimum of 20 equity shares and in multiples of 20 shares thereafter. The issue opens on November 29 for public.
According to Sebi guidelines, 50% of the shares are reserved for the qualified institutional buyers (QIB) category, 15% for high net-worth individuals (HNIs) and 35% for retail investors. Up to 60% of the QIB portion has been reserved for anchor investors and a third of the anchor investor portion has been reserved for domestic MFs. Five per cent of the QIB category, excluding the anchor investor portion, has been reserved for MFs on a discretionary basis.
For the year ended March 2016, the company reported a 9.7% rise in its total income at Rs 1,566 crore, from Rs 1,428.2 crore a year ago.