The Web address you entered is not a functioning page on our site. Go to Amazon.in's Home Page Innovative technology, meticulous market research, thoughtful sleep insights, the finest materials & the widest range of options all that and more, so that you can live the #pepslife every single day. This world class sleep accessory is a product of finest quality, care and craftsmanship. Each pillow is designed specially for the neck, back and shoulders. Featherlight Fitted Sheets to waterproof Protectors, comforters to ultrasoft Bed Linens, the Komffy range comprises of everything you need for a good night’s sleep.Motilal Oswal Private Equity Advisors Pvt Ltd (MOPE), the PE arm of Motilal Oswal Financial Services Ltd, is investing Rs 90 crore (about $13.5 million) in the country's top mattress maker Kurlon Ltd, that sells products under the brand Kurl-on. MOPE will invest Rs 70 crore into the firm through subscription to fresh securities and buy shares worth Rs 20 crore from the Kurl-on promoters, as per a disclosure by a group firm that owns a stake in the mattress maker.
Separate emailed queries to Motilal Oswal PE and Kurl-on on the development did not elicit any response immediately. Kurlon—earlier known as Karnataka Consumer Products Ltd—was set up in 1962 by Ramesh Pai and is a part of the Rs 2,000 crore Manipal Group of Companies, which has interests ranging from education, healthcare and financial services. The Bangalore-based firm is involved in making mattresses, furniture and home furnishings. It currently has 10,000 dealers and 72 offices across 2800 towns in India. Kurlon is three times the size of its nearest competitor Sheela Foam Pvt Ltd. Sheela Foam, which is a larger company given its other product lines, sells foam, coir and spring mattresses under the Sleepwell brand and industrial application mattresses under the Feather Foam brand. Other major players include Duroflex India and Coirfoam (India) besides international labels. The firm was in talks with various large PE firms to raise funding for almost four years now.
Some reports had said the company is looking to raise Rs 400 crore in a deal valuing it at around Rs 900 crore. It was also eyeing an IPO a few years ago that didn't materialise. The company has been facing margin crunch for the last few years even as its revenues kept climbing, as per VCCEdge, the data research platform of VCCircle. For MOPE, which manages its sector-agnostic mid-market PE funds besides a real estate investment unit, this is the second deal from the PE unit this year after it invested close to $5 million in Ahmedabad-based drug maker Arinna Lifesciences Pvt Ltd. MOPE manages two sector-agnostic PE funds India Business Excellence Fund-I and India Business Excellence Fund-II. Kurlon investment is through India Business Excellence Fund-II. A senior executive of the PE investment unit Rakesh Sony has just quit the firm. The firm's realty investment unit has been more active in deploying capital. Recently, MOPE part-exited Hyderabad-based power infrastructure service provider Power Mech Projects Ltd in the company's initial public offer that was oversubscribed 37 times.
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The seller is ready to sell this item for ₹ Send your Ads to the buyer so that they can make offers You have sent your ads to this buyer Please consider sending your ads to more buyers You don't have ads in this category If you wish to sell similar item please post an AdNew Delhi, Jul 31 () Sheela Foam, maker of Sleepwell mattresses, has filed draft papers with markets regulator Sebi to raise Rs 510 crore through an initial public offering. Sheela Foam is looking at valuation of USD 400-500 million and the company will dilute 15 per cent stake in the offer for sale. The company has filed draft red herring prospectus (DRHP) with Sebi for its Rs 510-crore offer for sale. At a face value of Rs 5, an unspecified number of shares will be sold to public at a price band to be decided later. The firm with an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 200 crore would not receive any proceeds from the initial public offer (IPO).
Edelweiss Financial Services, ICICI Securities and IIFL will be the book running lead managers to the issue. The company, which has 12 manufacturing facilities, developed a pan-India distribution network consisting of over 100 exclusive distributors, more than 2,000 exclusive retail dealers and over 2,500 multi-brand outlets. The firm exports its products to 25 countries. Apart from its flagship brand Sleepwell, Sheela Foam also manufactures foam-based home comfort products like mattresses, furniture-cushioning, pillows, cushions, sofa-cum-beds. According to Crisil, Sleepwell branded mattresses constituted a share of around 20-23 per cent of the organised Indian mattress market during 2015-16. Over the past few months, IPOs from companies with a consumer focus have been a huge success with even retail investors showing great interest. Public issues of Dr Lal Path Labs, Narayana Hrudayalaya, Thyrocare Technologies, Ujjivan Financial Services, InterGlobe Aviation - IndiGo's parent, Parag Foods, Mahanagar Gas and Coffee Day Enterprises, which runs Cafe Coffee Day outlets, have attracted considerable investor interest.