Sham Foam IPO GMP today is Rs 9. Investors can use this GMP along with price band and subscription status for a better IPO review.
Closed
SME IPO
SHAM
Sham Foam IPO GMP, Subscription & Allotment Status Today
Sham Foam Limited is primarily engaged in the business of manufacturing, distribution, marketing, and selling of polyurethane (PU) foam, mattresses, and other allied home comfort products targeted mainly at Indian consumers. The company also manufactures industrial grades of PU foam used in a wide range of industries. Its diversified product portfolio includes mattresses, pillows, and furniture cushions under the brands ‘Featherfresh’ and ‘Restivia’. The company, which specializes in customized PU foam and mattresses, operates a vertically integrated business model, controlling operations from product design and engineering to manufacturing and distribution. A significant portion of its revenue is derived from the sale of PU foam. The company owns and operates a manufacturing facility in Haryana, which is accredited with ISO 9001:2015 and BIS certifications for its quality management systems.
- Price Band
- ₹130.00 - ₹130.00
- Lot Size
- 1,000 Shares
- Bidding Closes
- 13 Aug 2026
- Listing Date
- 18 Aug 2026
Current GMP Status
₹9
+6.92% vs upper band
Est. Listing Gain
+6.92%
Last Trend
13 Aug 2026
Listing Price
Est. ₹139
Retail Entry
₹2,60,000
IPO Details
Complete IPO information
| Current GMP | ₹9 |
|---|---|
| Estimated Listing Gain | +6.92% |
| Price Band | ₹130.00 - ₹130.00 |
| Issue Price | Approx ₹130.00 Crores |
| Listing Price | Est. ₹139 |
| Lot Size | 1,000 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 2.4x |
| Listing Date | 18 Aug 2026 |
| Minimum Investment | ₹2,60,000 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| NII | 14.79 | 32.10 | 2.17x |
| Retail | 14.79 | 38.74 | 2.62x |
| Overall Subscription | 29.58 | 70.91 | 2.40x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Sham Foam is priced at ₹130 per share. With a minimum lot size of 1,000 shares, a retail investor applying for one lot would need approximately ₹2,60,000 to participate in this SME issue.
The latest recorded Grey Market Premium for Sham Foam stands at ₹9, implying an estimated listing gain of around 6.92% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Sham Foam's IPO was subscribed 2.4x overall, with a category-wise breakdown of Retail 2.62x, NII 2.17x.
Among the strengths highlighted in Sham Foam's IPO documents: The company operates an accredited in-house manufacturing facility in Haryana.; The vertically integrated model covers design, production, and distribution..
Investors should also weigh the risk factors Sham Foam has disclosed, including: Ongoing legal proceedings include a ₹536.42 Lakh dispute with Sheela Foam..
A share of Sham Foam's issue proceeds is earmarked for Capital Expenditure: 14.72 (36.37%).
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
11 Aug 2026
✓
Bidding Closes
13 Aug 2026
03
Allotment Next
14 Aug 2026
04
Listing
18 Aug 2026
Grey Market Premium
Daily GMP status
Trend chart builds up as more daily GMP snapshots are recorded.
| Date | GMP | Change | Gain |
|---|---|---|---|
| 13 Aug 2026 | ₹9.00 | - | 6.92% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,000 | ₹2,60,000 |
| Retail Maximum | 2 Lot | 2,000 | ₹2,60,000 |
| S-HNI Minimum | 3 Lot | 3,000 | ₹3,90,000 |
| S-HNI Maximum | 7 Lot | 7,000 | ₹9,10,000 |
| B-HNI Minimum | 8 Lot | 8,000 | ₹10,40,000 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Capital Expenditure 14.72 (36.37%)
- General Corporate Purpose 6.04 (14.92%)
Issue Notes
Important takeaways before applying
Strengths
- The company operates an accredited in-house manufacturing facility in Haryana.
- The vertically integrated model covers design, production, and distribution.
- The business delivered a strong 51.53% Return on Equity in FY26.
- The distribution network spans 13 states with over 1,300 dealers.
- Long-term debt was aggressively reduced to a 0.19x debt-to-equity ratio
Risks
- Ongoing legal proceedings include a ₹536.42 Lakh dispute with Sheela Foam.
- Raw material costs are highly volatile and exceed 78% of revenue.
- All production is concentrated at a single facility in Haryana.
- The primary manufacturing facility is located on leased premises.
- High trade receivable days of 93 days strain working capital.
Analysis
Sham Foam IPO Details
The Sham Foam IPO is a Fixed Price Issue with an issue size of approximately ₹40.48 crores. The public issue consists entirely of a fresh issue of equity shares, meaning the proceeds raised through the fresh issue will go to the company for the purposes specified in its IPO offer documents.
The IPO will open for subscription on August 11, 2026 and close on August 13, 2026. The issue price has been fixed at ₹130 per equity share, while the face value of each equity share is ₹10. The company's equity shares are proposed to be listed on the BSE SME platform.
| Particular | Details |
|---|---|
| IPO Open Date | August 11, 2026 |
| IPO Close Date | August 13, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price | ₹130 Per Share |
| Issue Size | Approx ₹40.48 Crores |
| Fresh Issue | Approx ₹40.48 Crores |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
Analysis
Sham Foam IPO Reservation
The Sham Foam IPO is a Fixed Price Issue with the net offer divided between Non-Institutional Investors (NII) and Retail Individual Investors (RII). As per the proposed reservation structure, both investor categories have been allocated an equal share of the net issue.
A total of 14,79,000 equity shares are offered to the NII category, representing 50% of the issue, while another 14,79,000 equity shares are reserved for retail investors, representing the remaining 50%.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| Non-Institutional Investors (NII) | 14,79,000 Shares | 50% |
| Retail Individual Investors (RII) | 14,79,000 Shares | 50% |
Note: The above reservation structure is based on the proposed IPO allocation. The final number of shares allotted to investors will depend on subscription levels and the basis of allotment finalized after the issue closes.
Analysis
Sham Foam IPO Dates
The Sham Foam IPO will open for subscription on August 11, 2026 and close on August 13, 2026. The basis of allotment is expected to be finalized on August 14, 2026. Refunds for unsuccessful applicants and the credit of allotted equity shares to successful investors' demat accounts are scheduled for August 17, 2026.
The equity shares of Sham Foam are proposed to be listed on the BSE SME platform on August 18, 2026. Investors should keep track of these important dates to monitor the subscription, allotment, refund, demat credit, and listing process.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 11, 2026 |
| IPO Close Date | August 13, 2026 |
| Basis of Allotment | August 14, 2026 |
| Refunds | August 17, 2026 |
| Credit to Demat Account | August 17, 2026 |
| IPO Listing Date | August 18, 2026 |
Note: The above IPO schedule is tentative and may be revised by the company, registrar, or stock exchange. Investors should check the latest official announcements for any changes to the IPO timeline.
Analysis
Sham Foam IPO Promoters and Holding Pattern
The promoters of Sham Foam are Rajinder Kumar Jindal, Sanjeev Kumar Jindal, Monica Jindal, Deepika Jindal and Charming Fashions Pvt. Ltd. Before the IPO, the promoter and promoter group collectively hold 100% of the company's equity shares.
Following the proposed IPO, the promoter group's holding is expected to reduce to 72.90%, while other shareholders will account for approximately 27.10% of the company's post-issue equity share capital.
Promoters of Sham Foam
- Rajinder Kumar Jindal
- Sanjeev Kumar Jindal
- Monica Jindal
- Deepika Jindal
- Charming Fashions Pvt. Ltd.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 83,76,750 | 100% | – | 72.90% |
| Others* | – | -% | – | 27.10% |
| Total | 83,76,750 | 100% | 1,14,90,750 | 100% |
Note: The post-IPO shareholding pattern is based on the proposed issue structure. The promoter and promoter group are expected to hold 72.90% of the company's equity share capital after the issue, while the remaining 27.10% will be held by other shareholders.
Analysis
Sham Foam IPO Objects of the Issue & Utilisation of Proceeds
Sham Foam intends to utilize the net proceeds from its IPO primarily to strengthen its manufacturing infrastructure and support the company's working capital requirements. A portion of the proceeds will be deployed towards civil construction as well as the purchase of machinery and equipment for the company's existing manufacturing facility.
The company also plans to use part of the IPO proceeds to finance its working capital requirements, which can support day-to-day operations and future business growth. The remaining proceeds will be utilized for general corporate purposes.
| Purpose | Amount |
|---|---|
| To finance the capital expenditure requirements for civil construction and purchase of machineries and equipment for the existing manufacturing facility | ₹13.72 Crores |
| To part finance the requirement of Working Capital | ₹14.25 Crores |
| To meet General Corporate Purposes | ₹- |
Note: The proposed utilisation of IPO proceeds is based on the objectives of the issue. The actual deployment of funds may be adjusted in accordance with the company's business requirements and applicable regulatory provisions.
Analysis
Sham Foam About Ipo
Since its establishment in 2020, Sham Foam has been involved in the manufacturing, distribution, marketing, and sale of polyurethane foam (PU Foam), mattresses, and home comfort products. They use industrial-grade PU foam in their products and sell mattresses, pillows, cushions, furniture cushioning, and PU foam cores used in home comfort products.
Its mattresses are sold under the Featherfresh and Restivia brands, where they offer both Pure Foam mattresses and Hybrid mattresses with customization options. Its Pillows and Cushions are also sold under the Featherfresh brand with different levels of foam firmness for better comfort. Sham Foam managed the entire value chain, from product design and engineering to manufacturing, distribution, and customer engagement. Its manufacturing facility is situated in Ambala, Haryana, spanning over 2,04,460 sq. ft.
Analysis
Sham Foam IPO Company Financial Report
Sham Foam has shown an improvement in its financial performance over the reported period. After revenue declined from ₹80.53 crores in FY2023 to ₹73.89 crores in FY2024, the company returned to growth with revenue reaching ₹81.62 crores in FY2025 and further increasing to ₹92.39 crores in FY2026.
Profitability has improved more significantly during the same period. Profit After Tax (PAT) increased from ₹0.70 crore in FY2023 to ₹8.65 crores in FY2026. The company's asset base also expanded from ₹27.68 crores to ₹49.32 crores during the four-year period.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹80.53 Cr. | ₹79.68 Cr. | ₹0.70 Cr. | ₹27.68 Cr. |
| 2024 | ₹73.89 Cr. | ₹70.26 Cr. | ₹2.97 Cr. | ₹33.55 Cr. |
| 2025 | ₹81.62 Cr. | ₹77.19 Cr. | ₹3.58 Cr. | ₹36.58 Cr. |
| 2026 | ₹92.39 Cr. | ₹81.94 Cr. | ₹8.65 Cr. | ₹49.32 Cr. |
Amount in ₹ Crores: The above figures summarize Sham Foam's reported revenue, expenses, Profit After Tax (PAT), and total assets for FY2023 to FY2026. Investors should consider these financial trends together with the company's valuation, debt position, business prospects, and IPO pricing.
Analysis
Sham Foam IPO Valuation – FY2026
The valuation metrics of Sham Foam provide investors with an overview of the company's profitability, capital efficiency, leverage, and IPO pricing. Important indicators such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Equity (ROE), Return on Capital Employed (ROCE), Return on Net Worth (RoNW), and Net Asset Value (NAV) can be used to evaluate the company's financial position before investing in the IPO.
For FY2026, Sham Foam reported an EPS of ₹10.33 and a P/E ratio of 12.58 based on the IPO price of ₹130 per share. The company also reported ROE of 51.53%, ROCE of 45.73%, and a relatively low debt-to-equity ratio of 0.19.
| KPI | Values |
|---|---|
| ROE | 51.53% |
| ROCE | 45.73% |
| EBITDA Margin | 11.91% |
| PAT Margin | 9.37% |
| Debt to Equity Ratio | 0.19 |
| Earning Per Share (EPS) | ₹10.33 (Basic) |
| Price / Earnings (P/E) Ratio | 12.58 |
| Return on Net Worth (RoNW) | 40.97% |
| Net Asset Value (NAV) | ₹25.21 |
Note: The above valuation indicators are based on the FY2026 financial data and IPO pricing provided. Investors should evaluate these ratios together with the company's financial growth, industry position, business risks, peer valuation, and future prospects before making an investment decision.
Analysis
Sham Foam IPO Peer Group Comparison
Sham Foam operates in the foam and related consumer products industry. Comparing the company with listed peers can help investors understand its relative profitability, valuation, return ratios, net worth position, and business scale before evaluating the IPO.
The table below compares key financial indicators including Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and income of comparable companies.
| Company | EPS | P/E Ratio | RoNW (%) | NAV (₹) | Income |
|---|---|---|---|---|---|
| Sheela Foam Limited | 11.96 | 64.50 | 4.48% | 266.69 | ₹2,962.27 Cr. |
| Wakefit Innovations Ltd | 6.03 | 21.22 | 22.90% | 343.00 | ₹1,488.94 Cr. |
Note: Peer comparison should not be considered solely on the basis of the P/E ratio or EPS. Investors should also consider differences in business scale, product portfolio, profitability, capital structure, growth prospects, and other financial parameters before making an investment decision.
Analysis
IPO Lead Managers aka Merchant Bankers
- Corporate Makers Capital Ltd.
- Navigant Corporate Advisors Ltd.
FAQ
Sham Foam IPO FAQs
Sham Foam IPO price band is Rs 130.00 to Rs 130.00. Check the latest issue price, lot size and GMP together before applying.
Sham Foam IPO open date is 11 Aug 2026, close date is 13 Aug 2026, and listing date is 18 Aug 2026.
Sham Foam IPO lot size is 1,000 shares. The minimum retail investment is Rs 2,60,000.
Sham Foam is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Sham Foam IPO subscription status currently shows Retail 2.62x, NII 2.17x, Overall 2.4x.
Sham Foam Limited is primarily engaged in the business of manufacturing, distribution, marketing, and selling of polyurethane (PU) foam, mattresses, and other allied home comfort products targeted mainly at Indian consumers. The company also manufactures industrial grades of PU foam used in a wide range of industries. Its diversified product portfolio includes mattresses, pillows, and furniture cushions under the brands ‘Featherfresh’ and ‘Restivia’. The company, which specializes in customized PU foam and mattresses, operates a vertically integrated business model, controlling operations from product design and engineering to manufacturing and distribution. A significant portion of its revenue is derived from the sale of PU foam. The company owns and operates a manufacturing facility in Haryana, which is accredited with ISO 9001:2015 and BIS certifications for its quality management systems.
Sham Foam IPO issue size is 40.48 and the expected allotment date is 14 Aug 2026.
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