Sham Foam IPO
ListedSME
2.40×
Subscribed
Price band
₹130 – ₹130
Issue size
₹40.48 Cr
Open – close
11 Aug 2026
to 13 Aug 2026
Listing
18 Aug 2026
Listing gain
-20.00%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong3 of 7 dimensions read
The disclosed numbers are strong — 2 of 3 signals read positive
Strength79/100
- Undemanding valuation12.6× earnings at the upper band, with no peer set published to compare against
- Minimal related-party dealingsRelated-party transactions are only 1.6% of revenue
- Book coveredThe book is subscribed 2.40× overall
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens11 Aug 2026
- Closes13 Aug 2026
- Listing18 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Non-institutionalNII / HNI2.17x
Retail individualRII2.62x
2,893 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 13 Aug 2026.
Chance of allotment
Retail2.62× subscribed
~1 in 2.6
Retail is 2.62× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.6 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII2.17× subscribed
~1 in 2.2
HNI is 2.17× subscribed. This category is allotted proportionately, so a bid receives roughly 1/2.2 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹130 – ₹130
Total issue size₹40.48 Cr
Listing atSME platform
Company & valuation
Related-party1.57%of revenue
ROE51.53%
ROCE45.73%
Debt/Equity0.19
RoNW40.97%
PAT Margin9.37%
EBITDA Margin11.91%
NAV25.21
Price to Book Value5.16
ISININE0Z9N01013
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| NII (HNI) | 14,79,000 | 47.50% |
| Retail | 14,79,000 | 47.50% |
| Market Maker | 1,56,000 | 5.01% |
Total issue 31,14,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,60,0002 lots · 2,000 sh
Individual investors (IND) (Max)₹2,60,0002 lots · 2,000 sh
HNI (Min)₹3,90,0003 lots · 3,000 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
What the money is for
Stated use of the net proceeds
- 01To finance the Capital expenditure requirements for civil construction and purchase of Machineries and Equipments for existing manufacturing facility₹14.72 Cr
- 02To part finance the requirement of Working Capital₹14.25 Cr
- 03To meet General corporate purposes₹6.04 Cr
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Sham Foam Limitedthis issue | 10.33 | 12.58 | 25.21 | 40.97% |
| Sheela Foam Limited | 5.00 | 64.50 | 266.69 | 4.48% |
| Wakefit Innovations Ltd | 1.00 | 21.22 | 343.00 | 22.90% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumThe Company, its Promoters, and Directors are involved in various legal proceedings, including civil litigation, criminal tax proceedings, and regulatory actions, with a total material amount of Rs 232.14 lakhs. An adverse outcome may have an adverse impact on the Company's reputation, business, fin
mediumThe Company's revenues are significantly dependent on a limited number of customers, with the top 10 customers contributing 25.06%, 26.83%, and 28.02% of revenue from operations for the fiscal years ended March 31, 2026, March 31, 2025, and March 31, 2024, respectively. The loss of one or more signi
mediumThe Company's manufacturing facility and registered office are located on leased premises. If the lease agreements are terminated, revoked, or cannot be renewed on commercially reasonable terms, the Company may suffer significant disruptions to its operations and incur considerable costs to relocate
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Sham Foam IPO subscribed?
Sham Foam is subscribed 2.40× overall (NII 2.17×, retail 2.62×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What are the chances of allotment in the Sham Foam IPO?
The retail portion is subscribed 2.62×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 3. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.