Sheela Foam: House of Kieraya becomes a subsidiary

Sheela Foam Limited (SFL) announced that House of Kieraya Limited (HOK/Furlenco) has changed its status from a jointly controlled entity to a subsidiary of SFL, effective October 1, 2026. This change resulted from an amendment agreement signed on October 1, 2026, modifying the Affirmative Vote Matters in their Shareholders’ Agreement. HOK, a leading furniture company operating in cities like Bengaluru, Mumbai, and Delhi NCR, reported a turnover of ₹375 Crore for FY 2025-26. This move allows Sheela Foam to enter the fast-growing branded furniture market. The amendment did not involve any transfer of shares, payment of consideration, or monetary consideration. SFL holds 34.53% equity shares in HOK, and this percentage remains unchanged.