Sarva Foam Industries IPO (DRHP filed)
Sarva Foam Industries Limited filed its draft red herring prospectus with SEBI on 1 Oct 2026. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 1 Oct 2026
- Days since
- 17
- Issue size
- —
- Board
- Mainboard
- Price band
- TBA
Sarva Foam Industries IPO status
Sarva Foam Industries Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 1 Oct 2026 |
|---|---|
| Days since filing | 17 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Sarva Foam Industries Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹175.15 Cr to ₹208.78 Cr, and profit after tax rose from ₹10.36 Cr to ₹17.65 Cr. The PAT margin for 31 Mar 2026 was 8.45%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 223.02 | 112.39 | 62.31 |
| Total Income | 208.78 | 175.15 | 132.61 |
| Profit After Tax | 17.65 | 10.36 | 6.96 |
| EBITDA | 33.09 | 23.52 | 12.26 |
| Net Worth | 71.09 | 18.96 | 15.25 |
| Total Borrowings | 98.73 | 62.07 | 33.92 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| ROE % | 39.20 | 60.53 | 58.65 |
| ROCE % | 22.17 | 30.37 | 30.86 |
| Debt / Equity | 1.39 | 3.27 | 2.22 |
| RoNW % | 24.83 | 54.61 | 45.26 |
| Pat Margin % | 8.56 | 5.92 | 5.23 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Sarva Foam Industries Ltd | 5 | — | 12.06 | 12.06 | 24.83% | 48.57 |
| Sheela Foam Ltd | 5 | 43.99 | 14.62 | 14.59 | 4.91% | 297.80 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirement of our Company for setting up of a manufacturing facility of rebonded polyurethane (“PU”) foam products (“Proposed Project”) | 90.00 |
| 2 | Repayment and/or pre-payment, in part or full, of certain borrowings availed by our Company | 30.00 |
| 3 | General corporate purposes | — |
| Total | 120 |
About Sarva Foam Industries Limited
Incorporated in 2018, Sarva Foam Industries Limited is a specialised manufacturer and trader of rebonded polyurethane (“PU”) foam, operating a circular-economy business model that converts PU foam trims and off-cuts into value-added rebonded foam products.
According to the D&B Report, the Company was the largest player in the Indian rebonded PU foam market, with an estimated market share of approximately 33% in Fiscal 2026, and was also the largest exporter of rebonded PU foam products from India.
The Company's product portfolio comprises three primary segments: (i) Rebonded Foam Sheets, which are precision-cut sheets used in mattresses, furniture and flooring applications; (ii) Rebonded Foam Blocks, which are high-density engineered blocks designed for industrial conversion; and (iii) Rebonded Carpet Underlays, which are manufactured in continuous rolls for use in carpet, sports and acoustic flooring applications.
The Company supplies its products to established brands and customers, including Duroflex Limited, Sheela Foam Limited, Infinity Flooring, Repose Mattress Private Limited, Restin Industries and Shrikrishna Enterprises.
Sarva Foam operates four strategically located manufacturing facilities across India. These comprise one facility in Northern India at Dadri, Uttar Pradesh; one facility in Western India at Silvassa, Dadra & Nagar Haveli; and two facilities in Southern India at Krishnagiri, Tamil Nadu. As of March 31, 2026, the Company's aggregate installed manufacturing capacity stood at 15,500 MTPA.
In addition to its manufacturing operations, the Company is engaged in the trading of raw materials, including various grades of foam binders, foam trims and carpet underlay accessories, as well as finished products such as rebonded foam blocks and rebonded carpet underlays.
The Company has also established an international presence through two entities incorporated in England and Wales—its foreign subsidiary, Sarva Global Ventures Ltd, and its step-down subsidiary, Sarva Foam UK Ltd. Through Sarva Foam UK Ltd, the Company undertakes trading activities relating to rebonded carpet underlay accessories.
As of August 31, 2026, the Company had a consolidated workforce of 101 full-time employees, comprising 41 employees in production and manufacturing, 4 in sales and marketing, and 5 in quality control. In addition, 368 contract labourers were engaged across its operations.
Promoters
Kunal Giani
Contact details
Sarva Foam Industries Ltd.
2 nd Floor Commercial Building,
E-8 Extension, Aakriti Eco city, Misrod Huzur
Bhopal, Madhya Pradesh, 462026
Telephone: +91 78800 99651
Email: investors@sarvafoam.com
Website: https://www.sarvafoam.com/
Sarva Foam Industries IPO FAQs
- Has Sarva Foam Industries IPO filed for an IPO?
- Sarva Foam Industries Limited filed its draft red herring prospectus (DRHP) with SEBI on 1 Oct 2026.
- When will the Sarva Foam Industries IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Sarva Foam Industries IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.