Shares of Sham Foam are currently trading at ₹100.25 on BSE, representing a 22.88% discount to the IPO price of ₹130. The stock has shown volatility with a high of ₹109 and low of ₹98.80, indicating continued weakness from its debut performance. According to Business Standard, the counter hit the lower circuit at ₹98.80 during recent trading sessions, reflecting sustained investor concerns about the company's market prospects.
The ₹40.48 crore IPO received a muted response from investors during its subscription period, with the issue being subscribed 2.44 times. As reported by Business Standard, the IPO comprised 31.14 lakh shares priced at ₹130 per share with a minimum order quantity of 1,000 shares. The stock had initially listed at ₹104 per share - a 20% discount to the IPO price, before extending losses to hit the lower price band. About 18.80 lakh shares changed hands on the BSE during recent trading sessions.
The company demonstrated strong financial growth in FY26, with total revenue from operations of ₹92.32 crore and net profit of ₹8.65 crore for the period ended March 31, 2026. According to Business Standard, the company recorded these figures for the period ended March 31, 2026. The company plans to utilize IPO proceeds towards civil construction, purchase of machinery and equipment, partially financing working capital requirements and meeting general corporate purposes.
As reported by Business Standard, Sham Foam operates as a vertically integrated business engaged in manufacturing, distribution, marketing and sale of polyurethane foam (PU foam), mattresses and related home comfort products. The company manufactures industrial-grade PU foam used across sectors such as furniture, apparel, sports goods and automotive applications. Its product portfolio includes mattresses, pillows, cushions, furniture cushioning and PU foam cores used in home-comfort products, with mattresses marketed under the Featherfresh and Restivia brands. The company also offers customised PU foam and mattress solutions based on specific customer requirements, featuring pure-foam as well as hybrid variants. The company had a total manpower strength of 85 employees across various levels.
