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The company's board authorized and declared the opening of the issue on Wednesday, 20 September 2023.
The floor price of Rs 1,133.99 is at a discount of 3.04% to the previous day's closing price of Rs 1,169.60 on the BSE.
The company may offer a discount of not more than 5% on the floor price for the issue.
The furniture maker said that the issue price will be determined by the company in consultation with the lead managers appointed for the issue.
Sheela Foam pioneered in the manufacturing of polyurethane foams in India and has ten manufacturing facilities, using the state of the art technology at strategic locations across the country.
The company reported 42% jump in consolidated net profit to Rs 54.39 crore during the quarter as against Rs 38.30 crore recorded in corresponding quarter last year. Net sales fell 8.2% year on year to Rs 447.83 crore during the quarter.
The scrip declined 2.49% to Rs 1,140.45 on the BSE.
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