Sheela Foam has incorporated wholly owned subsidiary -- International Comfort Technologies’ (ICTPL) registered with ROC Delhi. Initially, ICTPL will establish two manufacturing facilities one in Medhi in Jabalpur and other is at Nandigram, Gujarat with the object to manufacture the valued products to tap rural or semi urban market targeting consumer segment and scaleup the export and e-commerce business.
The cost of project would be around Rs 200 crore. Half of the project cost would be funded by Sheela Foam through equity/preference shares/loan and remaining would be funded by bank.
Sheela Foam is a leading manufacturer of mattresses in India marketed under its flagship brand -- Sleepwell. It manufactures other foam-based home comfort products targeted primarily at Indian retail consumers, as well as technical grades of polyurethane foam (PU Foam) for end use in a wide range of industries.
