Sham Foam Limited is engaged in the manufacturing, distribution, marketing and sale of polyurethane (PU) foam, mattresses and other home-comfort products. It also manufactures industrial-grade PU foam used across various industries in India.
The company offers a diversified product portfolio comprising PU foam, mattresses, pillows, furniture cushions, cushions and PU foam cores. It also manufactures customised PU foam in different grades and densities based on customer requirements.
Product Portfolio:
- PU Foam: Used in mattresses, furniture, sports products, seat covers, shoes, innerwear, jackets and other apparel.
- Mattresses: Pure foam and hybrid mattresses combining springs and rebonded foam, sold primarily under the Featherfresh and Restivia ranges.
- Pillows & Cushions: Primarily offered under the Featherfresh range, using PU foam of different densities.
- Customised Products: PU foam and mattresses are manufactured according to specific customer requirements. Certain products, such as pillows, are also manufactured through third-party job workers.
Sham Foam operates a manufacturing facility in Ambala, Haryana, spread across approximately 204,460 sq. ft., with an installed PU foam production capacity of 15,000 TPA. The facility is accredited with ISO 9001:2015 and BIS IS 7933:2022 certifications.
The company has a presence across 13 states and union territories and has developed a network of more than 1,300 dealers. It does not operate its own retail stores and primarily sells through dealers serving industrial customers and retail consumers through multi-brand outlets.
Its key raw materials include Toluene Diisocyanate (TDI), polyols, catalysts and additives, sourced from suppliers in India as well as overseas markets including Hong Kong, Thailand and Singapore.
As of January 31, 2026, Sham Foam had 83 employees, including 52 employees engaged in production, packing, quality, supervision, and factory operations. The company also uses temporary labour as required.
Sham Foam IPO – Details
| IPO Opening Date | 11 August 2026 |
| IPO Closing Date | 13 August 2026 |
| Issue Type | Fixed Price IPO |
| Issue Size | Total Issue: 31,14,000 Shares Worth ₹40.48 Crore Fresh Issue: 31,14,000 Shares Worth ₹40.48 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹130 per share |
| Market Lot | 1000 Shares |
| Min Order | 1000 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Alankit Assignments Ltd. |
| NII Shares Offered | 50% |
| Retail Shares Offered | 50% |
Sham Foam IPO – Date Schedule
| IPO Open Date | 11 August 2026 |
| IPO Close Date | 13 August 2026 |
| Basis of Allotment | 14 August 2026 |
| Initiation of Refund | 17 August 2026 |
| Credit of Shares to Demat | 17 August 2026 |
| IPO Listing Date | 18 August 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 13, 2026 |
Sham Foam IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2000 | ₹2,60,000 |
| Retail (Max) | 2 | 2000 | ₹2,60,000 |
| S-HNI (Min) | 3 | 3000 | ₹3,90,000 |
Competitive Strength
- In-house manufacturing facility supported by technology driven process.
- Extensive and well-developed pan-India sales and distribution network.
- Long-standing relationship with dealers.
- Focus on Quality and Timely Delivery.
- Experienced Promoters.
Company Promoters
- Rajinder Kumar Jindal
- Sanjeev kumar Jindal
- Monica Jindal
- Deepika Jindal
- Charming Fashions Pvt.Ltd.
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹80.53 Cr | ₹79.68 Cr | ₹0.70 Cr | ₹18.40 Cr |
| 31 March 2024 | ₹73.89 Cr | ₹70.26 Cr | ₹2.97 Cr | ₹10.11 Cr |
| 31 March 2025 | ₹81.62 Cr | ₹77.19 Cr | ₹3.58 Cr | ₹9.22 Cr |
| 31 March 2026 | ₹92.39 Cr | ₹81.94 Cr | ₹8.65 Cr | ₹3.99 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 51.53% |
| ROCE | 45.73% |
| Debt/Equity | 0.19 |
| RoNW | 40.97% |
| PAT Margin | 9.37% |
| EBITDA Margin | 11.91% |
| NAV | 25.21 |
| Price to Book Value | 5.16 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.33 | 7.53 |
| P/E (x) | 12.58 | 17.26 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| To finance the Capital expenditure requirements for civil construction and the purchase of machinery and equipment for the existing manufacturing facility. | ₹14.72 |
| To part finance the requirement of Working Capital. | ₹14.25 |
| To meet General corporate purposes. | ₹6.04 |
✅Strengths
- Experienced promoters & management.
- In-house manufacturing facility.
- 1,300+ dealer network across 13 states.
- Long-standing dealer relationships.
- ISO & BIS-certified quality systems.
⚠️Risks
- High dependence on PU Foam sales.
- High supplier concentration.
- Sales concentrated in a few states.
- Dependence on a single manufacturing facility.
- Intense organised & unorganised competition.
Sham Foam IPO Promoter Holding
| Pre-Issue Share Holding | 100.00% |
| Post Issue Share Holding | 72.90% |
Sham Foam IPO Prospectus
Company Contact Information
| Sham Foam Limited Khasra No. 18/16/2, Shahzadpur Yamunanager Road, NH-344, Village Rajpura, Tehsil Shahzadpur, Ambala, Haryana, 134202 Phone: +91-8572071526 Email: info@shamfoam.com Website: https://www.shamfoam.com/ |
Sham Foam IPO Registrar
| Alankit Assignments Ltd. Phone: 011-42541234/23541234/42541201 Email: info@alankit.com Website: https://ipo.alankit.com/ |
Sham Foam IPO Lead Manager(s)
| 1. Corporate Makers Capital Limited 2. Navigant Corporate Advisors Limited |
Sham Foam IPO FAQ
| What is the Sham Foam IPO? Sham Foam IPO is an SME IPO. The issue is priced at ₹130 per equity share. The IPO is to be listed on BSE SME. |
| When will Sham Foam IPO open? The IPO is to open on 11 August 2026 for QIB, NII, and Retail Investors. |
| What is Sham Foam IPO Investors’ Portion? The investors’ portion for NII – 50%, and Retail – 50%. |
| What is the Sham Foam IPO Size? Sham Foam IPO size is ₹40.48 Crore. |
| What are the Sham Foam IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2000 Shares for ₹2,60,000, while the maximum bid is 2000 Shares for ₹2,60,000. |
| What is the Sham Foam IPO Allotment Date? Sham Foam IPO allotment date is 14 August 2026. |
| What is the Sham Foam IPO Listing Date? Sham Foam IPO listing date is 18 August 2026. The IPO is to be listed on the BSE SME. |
