Sheela Foam: Sells 575 fractional shares from KEL merger

Sheela Foam Ltd. (SFL) announced the sale of 575 fractional shares in the open market. These shares originated from fractional entitlements arising from the share exchange ratio during the amalgamation of Kurlon Enterprise Limited (KEL) with SFL, as approved by the Hon’ble National Company Law Tribunal, Mumbai Bench. A Trust, appointed by SFL's Board, consolidated these fractional entitlements and sold the resulting shares on April 22, 2026. The net proceeds from this sale, after deducting applicable charges and taxes, will be distributed proportionally to the eligible shareholders of Kurlon Enterprise Limited who held these fractional entitlements. This action completes a procedural step in the merger process, ensuring fair compensation for fractional shareholders.