Sheela Foam Pvt. Ltd, which sells mattresses under the Sleepwell brand is planning to raise as much as Rs.500 crore through an initial public offering (IPO) by March, according to reports.
Report says that Edelweiss Financial Services Ltd and ICICI Securities Ltd will manage the process.
Sheela Foam is planning to file share-sale documents with markets regulator, the Securities and Exchange Board of India, by the next quarter, and the company may launch the IPO before March 2017, says report.
Reports added that the company will use the funds to invest in additional manufacturing capacity and new product development.