Sheela Foam Limited completed the acquisition of 94.66% stake in Kurlon Enterprise Limited from Kurlon Limited and Kurlon Trading And Invest Management Private Limited for INR 20.3 billion
October 19, 2023
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Sheela Foam Limited (NSEI:SFL) agreed to acquire 94.66% stake in Kurlon Enterprise Limited from Kurlon Limited and Kurlon Trading And Invest Management Private Limited for an enterprise value of INR 21.5 billion on July 17, 2023. Currently, Kurlon Limited has 88.47% stake in Kurlon Enterprise Limited and Kurlon Trading And Invest Management Private Limited has 6.19% of stake in Kurlon Enterprise Limited. As of August 2, 2023, Sheela Foam is raising funds, of which partial proceeds will be used to finance the acquisition and the remaining amount will be may be paid from debt funding, internal accruals, or a combination thereof. The deal has been approved by board of directors of Sheela Foam Limited and is expected to be completed by November 30, 2023. Link Intime India Pvt. Ltd. acted as registrar to Sheela Foam Limited.
Sheela Foam Limited (NSEI:SFL) completed the acquisition of 94.66% stake in Kurlon Enterprise Limited from Kurlon Limited and Kurlon Trading And Invest Management Private Limited on October 20, 2023.
Sheela Foam Limited is an India-based company. The Company specializes in the production of a diverse range of foam-based household comfort items, including mattresses, furniture cushions, as well as technical grades of polyurethane foams that cater to various industries, such as automotive, acoustics and various others. Its product portfolio includes mattresses, technical foam, furniture foam, and comfort foam and home care products. The mattresses range includes Foam mattress, spring range, technology range, comfort cell range, back support range, flexi PUF range, and others. Its technical foam products consist of automotive foams, reticulated foams, ultraviolet stable foams and silentech foams. Sleepwell resitec, Sleepwell cool gel and primo are its furniture foam products. Its comfort foam and home care products include foam sheets, foam blocks, comfort range accessories, foam cores, and others. The Companyâs brands include Sleepwell, feather foam, and Starlite, among others.
Sheela Foam Limited completed the acquisition of 94.66% stake in Kurlon Enterprise Limited from Kurlon Limited and Kurlon Trading And Invest Management Private Limited for INR 20.3 billion
SHEELA FOAM LIMITED 
