Sheela foam to acquire 94.66% stake in Kurlon Enterprises Ltd.

20 July 2023

Sheela Foam's board have approved the acquisition of 94.66% stake in Kurlon Enterprises Ltd. and 35% stake in House of Kieraya Pvt. Ltd., at its meeting held on 17th, July 2023. The company would acquire Kurlon Enterprise (94.66%), for an equity valuation of Rs. 2150 Cr., subject to customary adjustments for net working capital, debt, and surplus, if any. The approximate acquisition cost of Kurlon Enterprises is Rs. 2035 Cr.