Yamunanagar (Haryana) [India], August 11: Haryana-based Ambala company Sham Foam Limited is engaged in manufacturing, distribution, marketing and sale of polyurethane foam (PU foam), mattresses and related home comfort products. The company has launched its IPO on the BSE SME platform to finance capital expenditure requirements for civil construction and purchase of machinery and equipment for its existing manufacturing unit, partially finance working capital requirements and meet general corporate purposes. The Business Remedies team has gathered information regarding the company’s business activities from the company’s prospectus.
- Company is engaged in manufacturing, distribution, marketing and sale of polyurethane foam (PU foam), mattresses and related home comfort products
- The Rs. 40.48 crore IPO opened for subscription on August 11 and will close on August 13, 2026
- Rs. 40.48 crore IPO opened on the BSE SME platform on August 11, 2026, with an issue price of Rs. 130 per share and closing date of August 13, 2026.
- FY26 financial performance: Total revenue stood at Rs. 92.39 crore, up from Rs. 81.62 crore in FY25, while PAT increased to Rs. 8.65 crore from Rs. 3.58 crore, with a PAT margin of 9.37%.
- IPO proceeds to fuel growth: Funds will be utilised towards civil construction and purchase of machinery and equipment, partially financing working capital requirements and meeting general corporate purposes.
Business activities: Incorporated in 2020, Sham Foam Limited is primarily engaged in manufacturing, distribution, marketing and sale of polyurethane foam (PU foam), mattresses and related home comfort products for the Indian market. Additionally, the company manufactures industrial-grade PU foam, which is used in several industries including furniture, apparel, sports goods and automotive applications.
| Particulars | Details |
| IPO Open | 11 August 2026 |
| IPO Close | 13 August 2026 |
| Issue Price | Rs. 130 per share |
| Issue Size | Around Rs. 40 crore |
| Fresh Issue | 31,14,000 Equity Shares |
| Lot Size | 1,000 shares |
The company’s diversified product portfolio includes mattresses, pillows, cushions, furniture cushioning and PU foam cores used in home comfort products. The company specializes in providing customized PU foam and mattress solutions according to the specific requirements of customers. The company’s mattresses are sold under the Featherfresh and Restivia brands, offering both pure foam and hybrid (spring and rebonded foam) mattresses with customization options. Pillows and cushions are mainly sold under the Featherfresh brand and are designed with different foam densities for enhanced comfort and durability. Being a vertically integrated company, it manages the complete value chain from product design and engineering to manufacturing, distribution and customer engagement. The company operates a state-of-the-art manufacturing facility spread across 2,04,460 square feet in Ambala, Haryana. The facility is ISO 9001:2015 and BIS (IS 7933:2022) certified. With an installed foam production capacity of 15,000 tonnes per annum, the facility is strategically located near major customer centres, enabling efficient logistics, reduced lead time and better customer connectivity.
The company operates across 13 states and currently supplies its products to various cities in Bihar, Chandigarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jammu and Kashmir, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh and Uttarakhand. More than 80 employees are working at the company’s facility. The company has a dealer network of over 1,300 dealers.
Financial performance: In financial year 2024, the company recorded total revenue of Rs. 7389.18 lakh and profit after tax of Rs. 269.64 lakh. In financial year 2025, the company recorded total revenue of Rs. 8162.06 lakh and profit after tax of Rs. 358.19 lakh. In financial year 2026, the company recorded total revenue of Rs. 9238.71 lakh and profit after tax of Rs. 865.06 lakh. In financial year 2026, the company achieved a profit after tax margin of around 9.37 percent.
Promoters’ experience:
56-year-old Rajinder Kumar Jindal is the promoter, managing director and chairman of the company.
He has studied up to matriculation and has more than 25 years of experience in the home comfort and foam industry. He has played an important role in the continuous growth of the company’s operations. Before incorporation of the company, he was engaged in a similar business through his own firm, Aggarwal & Company.
His experience in the home comfort and foam industry, distribution channels, networking and attention to details ensures that every activity is completed and executed smoothly and professionally. He oversees the regular operational activities of the company. With his extensive industry experience, he provides strategic guidance to the company in preparing and implementing its growth plans.
51-year-old Sanjeev Kumar Jindal is the promoter and whole-time director of the company. He completed his higher secondary education from the Bhiwani Board, Haryana. He has more than 13 years of experience in the comfort and foam industry. He has actively contributed to business development and the growth of the company in coordination with Rajinder Kumar Jindal. He is mainly responsible for overseeing the company’s daily operations and business and operational policies. His industry knowledge and understanding of distribution channels support the company in operational planning and execution.
50-year-old Monica Jindal is the promoter and executive director of the company. She has obtained a Bachelor of Arts degree from Hemwati Nandan Bahuguna Garhwal University. She has more than 14 years of experience in company management. She has been associated with the company since September 2020. Currently, she is responsible for execution of company operations and management of daily activities. She provides strategic guidance to the board of directors and plays an important role in improving operational efficiency and achieving organisational objectives. She is known for her result-oriented approach, strong work ethics and leadership capabilities.
52-year-old Deepika Jindal is a promoter of the company. She has completed higher secondary education. She has more than 13 years of experience in company management. She is result-oriented, determined and hardworking and provides valuable advice and guidance to the board of directors.
IPO details: The IPO of Sham Foam Limited has opened on the BSE SME platform and investors can apply till 13 August 2026. The company is issuing 31,14,000 equity shares with a face value of Rs. 10 each at a price of Rs. 130 per share to raise around Rs. 40 crore. The market lot size of the IPO is 1,000 shares and retail investors will have to apply for two lots. The IPO is being managed by the lead manager company Corporate Makers Capital Limited.
Note: This article is not investment advice.
If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.
