BSE SME Sham Foam loses its bounce, trades below IPO price
The counter hit a high of Rs 109 and a low of Rs 98.80. About 18.80 lakh shares changed hands on the BSE.
Sham Foam's IPO was subscribed 2.44 times. The issue opened for bidding on 11 August 2026 and it closed on 13 August 2026. The price of the IPO was fixed at Rs 130 per share.
The IPO comprised 31,14,000 equity shares. The promoter and promoter group shareholding diluted to 72.90% from 100% pre-issue.
The company intends to utilize the net proceeds for finance the capital expenditure requirements for civil construction, purchase of machineries and equipment for existing manufacturing facility; to part finance the requirement of working capital and; to meet general corporate purposes.
Sham Foam is primarily engaged in the manufacturing, distribution, marketing and sale of polyurethane foam (?PU Foam?), mattresses and other allied home comfort products, catering primarily to Indian consumers. The company also manufactures industrial-grade PU Foam, which is used across a wide range of industries in India. It offers a diversified product portfolio designed to meet the varied preferences and requirements of consumers. Its foam-based product range includes mattresses, pillows, furniture cushions, cushions and PU foam cores used in the manufacturing of finished home comfort products. The company had total manpower strength of 85 employees across various levels.
The company recorded revenue from operations of Rs 92.32 crore and net profit of Rs 8.65 crore for the period ended 31 March 2026.
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