If the deal to take over the Kurlon mattress maker goes through, the expectation is that Sheela Foam which is known for the Sleepwell brand, will nearly double its market share to 40 percent.
Kurlon Enterprise: The acquisition will be funded by a mix of equity, internal accruals, and debt. Although Sheela Foam has a history of acquisition, this is the first time it has been announcing two acquisitions in one go. The acquisition of Kurl-on is expected to complete before November 2023 subject to regulatory clearance, while the Furlenco transaction is likely to complete by August 2023.
Established in 1971, Sheela Foam is the largest manufacturer of polyurethane foams in Asia Pacific. With a strong foothold in India, the company has secured a dominant position.
Updated Feb 04, 2021 | 08:44 IST
Results today: Hero Moto, SBI, NTPC Ltd, Container Corp, Chambal Fertiliser, Tata Power, HPCL, Zee, Trent, Praj, Whirlpool, REC, Godrej Agrovet, Minda Industries, Brigade Ent., Godrej Prop, Strides Pharma. Stocks to track in trade for February 3, 2021: Bharti Airtel, Apollo Tyres, Sheela Foam, P&G Hygiene, Ujjivan Small Finance Bank | Photo Credit: BCCL
Key Highlights
KPR Mills profit grew by 65.5% to Rs 156.26 crore on favorable inventory handling
PNC Infratech PAT up 163.29% at Rs 176.14 crore on revenue boost
Bharti Airtel
Bharti Airtel reported highest ever quarterly revenues for December quarter on the back of strong subscriber addition and improving realizations per user. Telco posted the highest ever consolidated quarterly revenues from India business. Upgrading of customers from 2G to 4G helped in shoring up average revenue per user(ARPU) to Rs 166 from Rs 162 a quarter ago. Airtel’s debt thoug