Sheela Foam Ltd has officially received listing and trading approval from the stock exchanges for 4,88,146 equity shares. These shares were issued to eligible shareholders of Kurlon Enterprise Limited (KEL) as part of the previously approved composite scheme of arrangement. The newly allotted shares, which have a face value of Rs. 5/- each, are available for trading effective April 22, 2026, and carry the same rights as existing equity shares.
Completion of Share Allotment
Following the successful integration of Kurlon Enterprise Limited (KEL) into Sheela Foam Ltd, the company has finalized the issuance of new equity shares. This milestone marks a key step in the composite scheme of arrangement involving several entities, including Belvedore International Limited and others. The company has officially confirmed that it has secured the necessary listing and trading approvals from both the BSE and the National Stock Exchange (NSE).
Details of the Issuance
The total issuance consists of 4,88,146 equity shares, each with a face value of Rs. 5/-. These shares were allotted to the eligible shareholders of KEL based on the approved share exchange ratio defined in the scheme. Effective from April 22, 2026, these shares are now open for trading on the public markets.
Impact on Shareholders
Sheela Foam Ltd has clarified that these newly listed shares will rank pari-passu in all respects with the company’s existing equity shares. This ensures that the new shareholders will enjoy the same dividends, voting rights, and benefits as the existing equity holders, marking a seamless transition for the stakeholders involved in the consolidation process.
Source: BSE
