Sheela Foam Invests in House of Kieraya Limited, a Leading Furniture Company
Sheela Foam Ltd. has approved a related party investment in House of Kieraya Limited (Furlenco), a leading furniture company with a strong online presence in cities including Bangalore, Mumbai, and Delhi NCR. The company will subscribe to 20,09,377 new equity shares of the target company at a price of 3149.30 per share, for an aggregate consideration of up to Rs. 63,68,68,79,70. This investment will increase Sheela Foam's investment in the target company and will consequently hold 3,40,12,420 equity shares on a fully diluted basis. House of Kieraya Limited was founded in 2012 by Mr. Ajith Mohan Karimpana and has shown consistent growth over the last three years with a turnover of Rs. 157 crs in FY'23, Rs. 152 crs in FY'24, and Rs. 240 crs in FY'25.
Key Highlights
- Sheela Foam to invest in House of Kieraya Limited, a leading furniture company.
- The company will subscribe to 20,09,377 new equity shares at a price of 3149.30 per share.
- This investment will increase Sheela Foam's investment in the target company.
- House of Kieraya Limited has shown consistent growth over the last three years.
- The transaction is expected to be completed by November 30, 2025.