- Price Band: 680 to 730 per Equity Share of Face Value of 5 each.
- The Floor Price is 136 times of the Face Value and the Cap Price is 146 times of the Face Value.
- Bid can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
- Offer for sale of such number of Equity Shares aggregating up to 5,100 million
- Bid/Offer Opening Date – November 29, 2016 and Bid/Offer Closing Date – December 1, 2016
MUMBAI, November 22, 2016 (GPN) : Sheela Foam Limited (“Company”), one of India’s leading manufacturer of mattresses under the brand name “Sleepwell”,will be launching its initial public offering (“IPO” or the “Offer”) which is scheduled to open on November 29, 2016 and close on December 1, 2016, with a price band of Rs. 680 – Rs. 730 per Equity Share of Face Value of Rs. 5 each of the Company (the “Equity Shares”). The Company may, in consultation with the Book Running Lead Managers, consider participation by Anchor Investors. The Anchor Investors shall Bid during the Anchor Investor Bidding Date, i.e., one Working Day prior to the Bid/Offer Opening Date.
The IPO comprises of an Offer for Sale of such number of Equity Shares aggregating up to Rs. 5,100 million by Polyflex Marketing Private Limited. (“Selling Shareholder”).
The Company will not receive any proceeds from the Offer and all proceeds from the Offer will go to the Selling Shareholder.
The Offer is being made through the Book Building Process in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI Regulations”), wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIB Portion”). Our Company may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors (“Anchor Investor Portion”) at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third will be available for allocation to domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price.
In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Such number of Equity Shares representing 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price.
Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received from them at or above the Offer Price such that, subject to availability of Equity Shares, each Retail Individual Bidder shall be Allotted not less than the minimum Bid Lot, and the remaining Equity Shares, if available, shall be allotted to all Retail Individual Bidders on a proportionate basis. All Bidders, other than Anchor Investors, shall participate in the Offer mandatorily through the Applications Supported by Blocked Amount (“ASBA”) process by providing the details of their respective bank accounts in which the corresponding Bid Amount will be blocked by the SCSBs. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see the section titled “Offer Procedure” on page 411 of the RHP.
Edelweiss Financial Services Limited and ICICI Securities Limited are the Book Running Lead Managers (“BRLMs”) to the Offer. The Registrar to the Offer is Link Intime India Private Limited.
The Equity Shares of the Company are proposed to be listed on the National Stock Exchange of India Limited (“NSE”) and the BSE Limited (“BSE”).
Sheela Foam Limited IPO : Link to RHP: http://bit.ly/2fKCl6