Sham Foam IPO

Driven by elevated disclosed risk (8/10), Sham Foam listed at a discount of 20.0% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.

• The company operates an in-house manufacturing facility in Ambala, Haryana, spread across 2,04,460 sq. ft., with an installed PU foam production capacity of 15,000 TPA. The facility allows the company
• The company has an established distribution network across 13 states and Union Territories in India, supported by more than 1,300 dealers. It also conducts training programmes for dealer sales personn
• The company claims to have developed long-standing relationships with several of its dealers across India. These relationships have enabled it to retain several dealers and maintain distribution of it
• The company manufactures customised PU foam in different grades and densities based on customer requirements. Its PU foam caters to multiple applications, including mattresses, furniture, sports produ
• The company claims to have integrated QR codes on PU foam sheets and cushions, allowing carpenters to access product information and associated schemes. It has also integrated QR codes across its matt

Score breakdown — what drove this verdict

▼

Disclosed Risk 8/10

High risk from DRHP → score -1.2

▼

Listing Performance -20.0%

Actual listing outcome → score −1.5

▼

SME Liquidity Discount SME

SME IPOs have lower liquidity after listing → score −0.5

Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →

IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.