Haryana-based Sham Foam Ltd launches its IPO on the BSE SME platform, seeking ₹40.48 crore to finance growth in its foam and home comfort products business, as revenues and profits surge in FY26.
Sham Foam Ltd has opened its ₹40.48 crore initial public offering on the BSE SME platform, with the issue set to close on August 13, 2026. Priced at ₹130 a share, the offer comprises 31.14 lakh equity shares and is being marketed as a funding round for expansion, machinery purchases, working capital and other corporate needs.
The Haryana-based company, incorporated in 2020, makes and sells polyurethane foam, mattresses and related home comfort products. According to company information, its range includes mattresses, pillows, cushions, furniture cushioning and PU foam cores, with products sold under the Featherfresh and Restivia labels. It also produces industrial-grade PU foam for use in furniture, apparel, sports goods and automotive applications.
Sham Foam says it operates a 2,04,460 square foot manufacturing facility in Ambala with an installed foam capacity of 15,000 tonnes a year. The plant is ISO 9001:2015 and BIS-certified, and the company says its location helps it serve customers more efficiently. It currently supplies products across 13 states, supported by a dealer network of more than 1,300 and a workforce of more than 80 employees.
The company’s financials show sharp growth in the latest year. Revenue rose to ₹92.39 crore in FY26 from ₹81.62 crore in FY25, while profit after tax climbed to ₹8.65 crore from ₹3.58 crore, lifting the net profit margin to 9.37%. Sham Foam’s promoters include Rajinder Kumar Jindal, the chairman and managing director, along with Sanjeev Kumar Jindal, Monica Jindal and Deepika Jindal, who together bring experience in the foam and home comfort business. Corporate Makers Capital Limited is managing the issue.
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