Sham Foam IPO

About Sham Foam IPO

The public issue of the Sham Foam IPO, an SME IPO, opens on Tuesday, August 11, 2026 and closes on Thursday, August 13, 2026. The credit of shares to the demat account will take place on Monday, August 17, 2026. The initiation of refunds will take place on Monday, August 17, 2026. The listing of shares will take place on Tuesday, August 18, 2026 . The equity shares offered through the IPO are proposed to be listed on the BSE SME platform.

The offer consists of a fresh issue component. The fresh issue will include 0.31 crore shares of ₹40.48 crore. The total number of shares and aggregate amount are 31,14,000 shares aggregating up to ₹40 crore.

Sham Foam IPO’s issue price is set at ₹130 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by a retail individual investor is ₹2,60,000 (2,000 shares) based on upper price. The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹3,90,000.

Sham Foam is primarily engaged in the business of manufacturing, distribution, marketing and selling of polyurethane foam (PU Foam), mattresses and other allied home comfort products targeted primarily at Indian consumers. They also manufacture Industrial grades of PU Foam that is used in a wide range of industries in India.

Objectives of Sham Foam IPO

• To finance the capital expenditure requirements for civil construction and purchase of Machineries and Equipments for the existing manufacturing facility.
  
• To finance the requirement of working capital.
  
• To meet general corporate purposes.
  

Industry Outlook

The India Mattress Market Report is Segmented by Product Type, Mattress Size, End User and Geography. The India mattress market size is USD 240 crore in 2025 and is forecast to reach USD 365 crore by 2030, expanding at an 8.80% CAGR across the period. Surging sleep-health awareness, higher urban disposable income, and an expanding omnichannel retail network have repositioned mattresses from basic furniture to health investments. Organised players are capitalising on the trend by integrating AI-enabled products, tightening supply chains and widening show room footprints to reach digitally savvy consumers in Tier-II and Tier-III cities. Hospitality growth linked to India’s G20 tourism push and the hotel sector’s USD 3101 crore 2029 revenue target is creating incremental B2B volume that supports factory utilization rates. Meanwhile, direct-to-consumer (D2C) brands have disrupted legacy pricing by offering 25-50% lower ticket sizes and reinforcing the premiumization narrative through health-centric positioning.

About Sham Foam

Sham Foam is engaged in the manufacture and supply of Polyurethane (PU) Foam, catering primarily to the mattress and furniture industry, as well as applications in sports products, seat cover, shoes, innerwear, jackets and related apparel. They also specialize in PU foam production, supplying customized grades/ density as per customer requirements. Certain finished products, such as pillows, are manufactured on a job-work basis through third-party manufacturers, as per customer specifications. They are a full-stack vertically integrated company, enabling them to control every aspect of their operations, from conceptualizing, designing and engineering their products to manufacturing, distributing and providing customer experience and engagement.

Strengths of Sham Foam

• Leveraging the experience of their promoter and employees.
  
• In-house manufacturing facility supported by technology driven process.
  
• Extensive and well-developed pan-India sales and distribution network.
  
• Long-standing relationship with their dealers.
  
• Focus on quality and timely delivery.
  

Risks of Sham Foam

• There are outstanding litigation proceedings involving the company and their promoters.
  
• The registered office cum manufacturing facility of the company is located on leased premises.
  
• The revenues have been significantly dependent on few customers and their inability to maintain such business may have an adverse effect on their results of operations.
  
• They have experienced negative cash flows and any negative cash flows in the future could adversely affect their financial conditions and results of operations.
  
• Volatility in the supply and pricing of their raw materials, or failure by suppliers to meet their obligations, may have an adverse effect on their business, cash flows, financial condition and results of operations.
  

Anchor Investor Bidding Date

Monday, August 10, 2026

Registrar and Book Running Lead Manager

Registrar Details
Alankit Assignments Ltd.
Email: info@alankit.com
Tel.: 011-42541234/23541234/42541201

Book Running Lead Managers

• Corporate Makers Capital Ltd.
  
• Navigant Corporate Advisors Ltd.
  

Sham Foam Contact Details
Khasra No. 18/16/2, Shahzadpur Yamunanager Road, NH-344,
Village Rajpura, Tehsil Shahzadpur, Ambala, Haryana, 134202
Email: info@shamfoam.com
Phone: +91-8572071526

Sham Foam Business Model

The company earns its revenue through engaging in the business of manufacturing, distribution, marketing and selling of polyurethane foam (PU Foam), mattresses and other allied home comfort products targeted primarily at Indian consumers.

Sham Foam Growth Trajectory

Sham Foam’s Total Income for FY25 was ₹81.62 crore, whereas in FY24 and FY23 it was ₹73.89 crore and ₹80.53 crore, respectively.

The Profit After Tax for FY25 was ₹3.58 crore, whereas in FY24 and FY23 it was ₹2.97 crore and ₹0.70 crore, respectively.

Their EBITDA for FY25 was ₹4.69 crore, whereas in FY24 and FY23 it was ₹4.43 crore and ₹1.34 crore, respectively.

Sham Foam Market Position

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹81.62 crore, ₹3.58 crore, and ₹4.69 crore, respectively.

How to Apply for Sham Foam IPO?

• Log in to your Kotak Neo Demat account - Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.