Sheela Foam shines on getting nod to acquire House of Kieraya
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Sheela Foam is currently trading at Rs. 1279.05, up by 90.95 points or 7.66% from its previous closing of Rs. 1188.10 on the BSE.
The scrip opened at Rs. 1300.10 and has touched a high and low of Rs. 1363.55 and Rs. 1262.95 respectively. So far 124225 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1710.00 on 05-Sep-2022 and a 52 week low of Rs. 905.50 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1363.55 and Rs. 1107.70 respectively. The current market cap of the company is Rs. 12493.76 crore.
The promoters holding in the company stood at 72.95%, while Institutions and Non-Institutions held 25.16% and 1.89% respectively.
Sheela Foam has received an approval for the acquisition of House of Kieraya (Furlenco). The acquisition will help the Company enter the fast-growing branded furniture market. The acquisition is expected to be completed by August 31, 2023. The Board of Directors of the company at their meeting held on July 17, 2023 has approved the same.
Sheela Foam is a leading manufacturer of mattresses in India marketed under its flagship brand “Sleepwell”.
