Sleepwell-maker Sheela Foam To Raise Up To Rs 1,200 Crore Via QIP

Sleepwell-maker Sheela Foam Ltd. will raise up to Rs 1,200 crore via qualified institutional placements.

The company's QIP committee, at its meeting held on Monday, approved the allocation of 1.11 crore shares at an issue price of Rs 1,078 apiece, according to an exchange filing.

The issue price is at a discount of 4.94% to the floor price of Rs 1,133.99.

The issue was opened on Sept. 20 and closed on Monday.

Last week, the company approved fundraising of Rs 725 crore by way of the issuance of senior, unsecured, redeemable, rated, listed, taxable, non-convertible debentures on a private placement basis.

Shares of Sheela Foam closed 2.04% higher at Rs 1,128.90 apiece on Monday ahead of the announcement, compared to a 0.02% advance in the S&P BSE Sensex.