Sheela Foam makes spectacular debut

Sheela Foam made a spectacular debut on the bourses today. As against the IPO price of Rs.730, the stock got listed 860 and is now at Rs.1032, some 41% over the issue price.

This manufacturer of Sleepwell brand of mattresses had got a fantastic response to its IPO, subscribing 5 times. QIBs subscribed to the lions share at 14. 5 times, HNIs at 3.35 times and retail was very small at 0.44 times.

Clearly, it was the QIBs who gave this thumping response to the IPO and what one needs to wait and watch is whether or not it is able to sustain this price as of now